PCCW Limited, a Hong Kong-based company which holds interests in telecommunications, media, IT solutions, property development and investments among other businesses, has announced the appointment of Srinivas Bangalore Gangaiah as its group managing director with effect from July 14, 2014.
Srinivas will succeed George Chan, who will retire from his position following completion of his contract with the company on July 7, 2014.
Srinivas, also known as B G Srinivas, quit his position as the president and board member of Infosys early this week in the 10th high-profile exit from the Indian IT major in the last one year. He was one of the candidates who was being evaluated to succeed S D Shibulal, co-founder and CEO of the country's second largest software services firm.
He has worked for the last 15 years with Infosys Group as the president and executive director of Infosys Limited. He has held several leadership roles at Swiss multinational group ABB prior to joining Infosys.
Srinivas received a total compensation of $1.3 million (Rs 7.8 crore), including a salary of $844,453, bonus and incentives of $281,415 and other compensation of $154,143 in fiscal 2013-14, making him the highest paid executive at Infosys during the last fiscal.
Richard Li, chairman, PCCW said, "On behalf of the Board of Directors, I warmly welcome Srinivas. I am confident that his immense IT knowledge, experience in service-oriented organizations, leadership skills and international perspective will provide PCCW Group with additional momentum. He will develop both its media and IT businesses locally and internationally."
PCCW Limited holds a majority interest in HKT, Hong Kong's premier telecommunications service provider. HKT offers a wide range of services including local telephony, local data and broadband, international telecommunications, mobile, and other telecommunications businesses such as customer premises equipment sale, outsourcing, consulting, and contact centers.
Wholly-owned by the PCCW Group, PCCW Solutions is a leading IT outsourcing and BPO services provider in Hong Kong and mainland China. In addition, PCCW Limited holds a majority interest in Pacific Century Premium Developments Limited, and overseas investments including the wholly-owned UK Broadband Limited.