New Delhi : Moving towards a decentralised leadership model, IT services major iGATE said it will give more freedom to its vertical heads to focus on markets like North America and Western Europe.
iGATE is in the process of “finding leaders” to head its business in the US, the UK, Australia and countries in the Germanic, Nordic and Benelux region.
“We are developing a new organisational structure where the leaders will have responsibility and accountability towards the clients, shareholders and employees,” iGATE President and CEO Ashok Vemuri said in a video conference. In August, Vemuri resigned as the head of North America region at India’s second largest software firm Infosys to take on as iGATE’s CEO following Murthy’s sacking.
Vemuri said iGATE has entered into a credit agreement for a secured term loan facility of USD 360 million with DBS Bank and ING Bank, which will help the US-based company save about USD 105 million worth of interest over a period of five years.