UST Global said that its current CEO Sajan Pillai is retiring and he is being replaced by company's CFO and President Krishna Sudheendra as new CEO. Pillai, who has been with UST Global for over 20 years, will remain on the company's Board of Directors and be actively involved for the next one year with Krishna and the leadership team in support of a successful transition, said UST Global in a statement.
Pillai led the creation of a robust start-up ecosystem at UST Global investing in startups with an eye on innovation and will continue to focus on this through a new venture fund while serving on the Board. The ecosystem is a significant space for bringing innovation to UST Global clients and growth for the company going forward.
“At UST, I have had a very fulfilling journey advancing the passion of cutting-edge technology and innovation by bringing together startups and customers to create an ecosystem to provide value to them. To lead the exciting world of venture-driven startups, I would like to dedicate my time now to give back and to fulfil that passion, serving business and consumers globally. This will help UST continue its innovation journey on behalf of its customers,” said Pillai. “I am very proud to have Krishna succeeding me in this role as the next generation of leadership for the company. He is the right person to spearhead the organization in its next stage of evolution.”
As part of the company's succession plan, Sudheendra has served as President for the past year. During his 15+ year career with UST Global, he has successfully led customer and market expansion fueling industry leading the growth of the company. He was instrumental in securing private equity investment to power UST Global through its evolution. In addition to strengthening global operations, he implemented strong financial systems, governance and controls to optimize performance and productivity.
“This announcement is the successful culmination of a multiyear succession plan to select the best leader for UST Global. With a stellar track record as the company's President and CFO, we look forward to what Krishna will bring to the company as its CEO,” said Paras Chandaria, Chairman of the Board of Directors, UST Global. “On behalf of the entire board, I thank Sajan for his leadership and his numerous contributions to UST Global's recent success. We appreciate his service and commitment to UST Global and will work together on future venture-driven endeavours.”
“I am honoured to be named the next CEO of UST Global, and want to thank both Sajan and the Board for the confidence they have placed in me to lead this strong organization and support our talented people as we continue to grow the company,” added Sudheendra.