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PROG Holdings Announces Appointment of Sridhar Nallani as Chief Technology Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
PROG Holdings, Inc. (NYSE:PRG) announced the appointment of Sridhar Nallani as its new Chief Technology Officer, effective February 14, 2023. Nallani brings extensive experience in leading technology initiatives from his previous roles at Backcountry and Gap Inc., where he modernized enterprise technology stacks and enhanced customer experiences. His expertise in B2C transformations and cloud-based solutions is expected to drive innovation in PROG Holdings' fintech products. CEO Steve Michaels expressed confidence in Nallani’s ability to lead technology advancements for the company.
Positive
Appointment of Sridhar Nallani as CTO expected to enhance technology initiatives.
Nallani's experience in modernizing enterprise technology at leading retailers could strengthen product innovation.
Leadership change may bring fresh perspectives and renewed strategic focus to the tech department.
Negative
Concerns about continuity given the recent leadership change.
SALT LAKE CITY--(BUSINESS WIRE)--
PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Vive Financial, and Four Technologies, announced today that Sridhar Nallani has joined the Company as Chief Technology Officer, effective February 14, 2023. As CTO, Mr. Nallani leads the teams responsible for development, integration, and innovation of all customer-, partner-, and employee-facing technologies for PROG Holdings and its subsidiaries, including Progressive Leasing’s leading lease-to-own products.
“Sridhar’s repeated success leading the development and evolution of enterprise-level financial services and retail consumer technologies at organizations ranging from startups to Fortune 50 companies makes him a great asset to lead our continuing innovation of flexible, transparent, and inclusive fintech products,” said PROG Holdings President and CEO Steve Michaels. “We welcome Sridhar to our executive team and look forward to working with him to execute on our key technology initiatives in 2023 and beyond.”
Mr. Nallani joins PROG Holdings from leading outdoor retailer Backcountry, where, as Executive Vice President and CTO, he oversaw a complete top-to-bottom modernization of the primarily online retailer’s enterprise technology stack. Prior to Backcountry, he led technology efforts as Senior Vice President and CTO of Old Navy/Gap Inc., amplifying the influential fashion retailer’s customer experience while focusing on an omni-channel architecture unification for all Gap brands.
Mr. Nallani has also worked in senior technology management positions for fashion retailer Charlotte Russe and Macy’s. His experience includes building and leading strong teams that have modernized legacy technology systems and stacks, executed end-to-end B2C transformations, driven e-commerce platforms into cloud-based solutions, and strategically used data, artificial intelligence and machine learning to elevate and personalize the customer experience with retailer-focused businesses.
Mr. Nallani was named to the 2019 National Diversity Council list of the top 50 CIOs and CTOs in the United States and serves as a technology and digital strategy advisor to the Board of Directors for the private equity firm TSG Consumer Partners. He received his bachelor’s degree in computer science from Osmania University, Telangana, India, and his master’s degree in computer science from Louisiana State University.
About PROG Holdings, Inc.
PROG Holdings, Inc. (NYSE:PRG) is a fintech holding company headquartered in Salt Lake City, UT, that provides transparent and competitive payment options to consumers. The Company owns Progressive Leasing, a leading provider of e-commerce, app-based, and in-store point-of-sale lease-to-own solutions, Vive Financial, an omnichannel provider of second-look revolving credit products, and Four Technologies, provider of Buy Now, Pay Later payment options through its platform Four. More information on PROG Holdings' companies can be found at https://www.progholdings.com.
Sridhar Nallani has been appointed as the new Chief Technology Officer of PROG Holdings, effective February 14, 2023.
What is the professional background of Sridhar Nallani?
Nallani previously served as CTO at Backcountry and Gap Inc., overseeing significant technology modernization and customer experience enhancements.
Why was Sridhar Nallani appointed as CTO of PROG Holdings?
His extensive experience in technology management and successful track record in enterprise-level transformations make him a valuable asset for PROG Holdings.
What impact could Sridhar Nallani have on PROG Holdings?
Nallani's leadership is expected to drive innovation in fintech products and improve technology capabilities at PROG Holdings.
