Syntel CEO Keshav Murugesh resigns, WNS APPOINTS KESHAV MURUGESH CHIEF EXECUTIVE OFFICER

Information technology services company Syntel Inc. said its president and CEO resigned on Monday, and was replaced on Tuesday by one of its directors.

The company said Keshav Murugesh, 46, resigned effective Monday "to pursue other opportunities." Company spokesman Jon Luebke said Murugesh "chose to step down for personal reasons, and it would not be appropriate for us at this time to comment on his future plans."

Chairman Bharat Desai praised Murugesh, saying that for the past eight years the CEO was "instrumental in driving Syntel's growth and evolution into a truly world class organization."

The company named Prashant Ranade as chief executive and president. Ranade, 57, has been a director since 2007. He ran Siemens Group Logistics and Assembly Systems NA from 2003 to 2006.

Syntel shares fell 27 cents to $33.47 in afternoon trading.

Meanwhile, WNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of global business process outsourcing (BPO) services, today announced that its Board of Directors has appointed Keshav Murugesh to the position of Chief Executive Officer and elected him to the Board.

Murugesh, 46, most recently served in the same role at Nasdaq listed Syntel Inc, a global provider of custom outsourcing solutions in a broad spectrum of information technology and information technology-related services. He is expected to assume his new responsibilities effective February 19, 2010.