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WNS (Holdings) Limited (NYSE: WNS) announced the retirement of Michael Menezes and Gareth Williams from the Board of Directors, effective December 31, 2022. Both have served the board for nine years, the maximum term according to company guidelines. Jason Liberty, an existing board member, will replace Menezes as Chairperson of the Audit Committee, while Lan Tu will take over from Williams as Chairperson of the Compensation Committee from January 1, 2023. The board expressed gratitude for the contributions of the retiring members towards corporate governance and company success.
Positive
Jason Liberty's promotion as Chairperson of the Audit Committee may provide continuity in governance.
Lan Tu's leadership in the Compensation Committee could bring fresh perspectives to the company's compensation strategies.
Negative
The retirement of experienced board members may lead to potential knowledge gaps within the Board of Directors.
Change in leadership could introduce uncertainties regarding strategic direction.
NEW YORK & MUMBAI, India--(BUSINESS WIRE)--
WNS (Holdings) Limited (NYSE: WNS), a leading provider of global business process management (BPM) solutions, today announced that effective end of day December 31, 2022, Michael Menezes and Gareth Williams will retire from the WNS Board of Directors and step down as Chairman of their respective Committees. Michael and Gareth will retire after having served on the WNS Board for 9 years, the prescribed maximum term of directorship under WNS’ Corporate Governance guidelines. Jason Liberty, who joined the company’s Board of Directors on February 14, 2020 and is serving as a member of the Audit Committee, will assume the role of Chairperson of the Audit Committee of the Board in place of Michael, while Lan Tu, who joined the company’s Board of Directors on February 4, 2022 and is serving as a member of Compensation and Nominating and Corporate Governance Committee, will assume the role as Chairperson of the Compensation Committee in place of Gareth effective January 1, 2023.
“On behalf of the WNS Board, I would like to sincerely thank Michael and Gareth for their contributions to the company’s success over the past 9 years. Michael and Gareth’s leadership and guidance have been instrumental in helping WNS drive sound corporate governance and position the company for long-term success,” said Timothy L. Main, Chairman of the Board of Directors, WNS.
About WNS
WNS (Holdings) Limited (NYSE: WNS) is a leading Business Process Management (BPM) company. WNS combines deep industry knowledge with technology, analytics, and process expertise to co-create innovative, digitally led transformational solutions with over 400 clients across various industries. WNS delivers an entire spectrum of BPM solutions including industry-specific offerings, customer experience services, finance and accounting, human resources, procurement, and research and analytics to re-imagine the digital future of businesses. As of September 30, 2022, WNS had 57,503 professionals across 60 delivery centers worldwide including facilities in Canada, China, Costa Rica, India, the Philippines, Poland, Romania, South Africa, Spain, Sri Lanka, Turkey, the United Kingdom, and the United States.
This document includes information which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events. Factors that could cause actual results to differ materially from those expressed or implied are discussed in our most recent Form 20-F and other filings with the Securities and Exchange Commission. WNS undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Investors:
David Mackey EVP – Finance & Head of Investor Relations
WNS (Holdings) Limited +1 (646) 908-2615
david.mackey@wns.com
Media:
Archana Raghuram Global Head – Marketing & Communications and Corporate Business Development
WNS (Holdings) Limited +91 (22) 4095 2397
archana.raghuram@wns.com; pr@wns.com
Source: WNS (Holdings) Limited
FAQ
What changes occurred in the WNS Board of Directors?
Michael Menezes and Gareth Williams will retire from the WNS Board effective December 31, 2022, after nine years of service.
Who will replace Michael Menezes and Gareth Williams on the WNS Board?
Jason Liberty will become the Chairperson of the Audit Committee, and Lan Tu will be the Chairperson of the Compensation Committee effective January 1, 2023.
What is the significance of the board changes at WNS?
The changes may impact corporate governance and strategic direction, as experienced members are retiring and new leadership is stepping in.
When did the changes in the WNS Board become effective?
The changes will be effective from the end of December 31, 2022.
