-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WA8FgUbdquyIzQHHfqKIjOuq3AHmjYPe15HBuhNPQFJywcdl7OX3yMVq3WC9P4EX ohRb0+Opq/us+/m6PnH2Jg== 0000950124-06-001304.txt : 20060317 0000950124-06-001304.hdr.sgml : 20060317 20060317090435 ACCESSION NUMBER: 0000950124-06-001304 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060313 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060317 DATE AS OF CHANGE: 20060317 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SYNTEL INC CENTRAL INDEX KEY: 0001040426 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 382312018 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22903 FILM NUMBER: 06694104 BUSINESS ADDRESS: STREET 1: 525 EAST BIG BEAVER ROAD STREET 2: SUITE 300 CITY: TROY STATE: MI ZIP: 48083 BUSINESS PHONE: 2486193524 MAIL ADDRESS: STREET 1: 525 EAST BIG BEAVER ROAD STREET 2: SUITE 300 CITY: TROY STATE: MI ZIP: 48083 8-K 1 k03543e8vk.txt CURRENT REPORT, DATED MARCH 13, 2006 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) March 13, 2006 Syntel, Inc. (Exact Name of Registrant as Specified in Its Charter) Michigan (State or Other Jurisdiction of Incorporation) 0-22903 38-2312018 (Commission File Number) (IRS Employer Identification No.)
525 E. Big Beaver Road, Suite 300, Troy, Michigan 48083 (Address of Principal Executive Offices) (Zip Code)
(248) 619-2800 (Registrant's Telephone Number, Including Area Code) ________________________________________________________________________________ (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the follwing provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 1 ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS. On February 20, 2006, the Board of Directors of Syntel, Inc. (the "Company") increased the size of the Board from five to six members. Effective March 13, 2006, the Company's Board of Directors elected Paul Donovan to the Board to the fill the vacancy created by the increase in the size of the Board of Directors. Mr. Donovan, recently retired, had served as Executive Vice President and CIO for ING Americas since 1999. Prior to that he held several CIO/executive positions at Fidelity Investments. He has led a consulting practice at Coopers and Lybrand and was a founder and principal for a software and service company, Advanced Information Management Inc. Mr. Donovan will stand for election to the Board of Directors with the other director nominees at the Company's 2006 Annual Shareholder Meeting. The Board has not yet appointed Mr. Donovan to serve on any Board Committees. Mr. Donovan is not a party to any arrangement or understanding pursuant to which he was selected as a director, nor is Mr. Donovan a party to any transaction, or series of transactions, required to be disclosed pursuant to Item 404(a) of Regulation S-K under the Securites Exchange Act of 1934. A copy of the press release issued by the Company announcing Mr. Donovan's election to the Board is furnished as Exhibit 99.1. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits.
Exhibit Number - ------- 99.1 Press Release dated March 17, 2006.
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Syntel, Inc. (Registrant) Date March 17, 2006 By /s/ Daniel M. Moore ------------------------------------- Daniel M. Moore, Chief Administrative Officer 2 EXHIBIT INDEX
Exhibit No. Description - ----------- ----------- 99.1 Press Release dated March 17, 2006.
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EX-99.1 2 k03543exv99w1.txt PRESS RELEASE DATED MARCH 17, 2006 EXHIBIT 99.1 PAUL DONOVAN JOINS SYNTEL BOARD OF DIRECTORS TROY, Mich. - March 17, 2006 - Syntel, Inc. today announced that Paul Donovan, former Executive Vice President and CIO of ING Americas, has joined the Company's Board of Directors. "Paul will be a tremendous asset to our Board of Directors. His deep business and technology expertise, combined with his dual perspective from both the client and service provider sides, will bring a lot of value as we continue with our investments and growth," said Bharat Desai, Syntel's Chairman and CEO. "We are all looking forward to working closely with him." "Syntel has a strong model and business plan with a solid reputation among Global 2000 companies," said Donovan. "It is a fascinating time for this industry and the Company is in a dynamic growth phase. I am looking forward to being a part of it and making a contribution to the Company's future success." Mr. Donovan is a senior executive with more than 30 years of experience in global information technology, corporate strategy and management, customer service, and professional services. A leader in business improvement through information technology, he has a strong track record as a change agent. Mr. Donovan most recently served as Executive Vice President and CIO for ING Americas where he merged technology and infrastructures of several companies into one large financial services company. Prior to that, he held several CIO and executive positions at Fidelity Investments and led a consulting practice at Coopers and Lybrand. Early in his career, he was founder and principal for a software and services company, Advanced Information Management Inc. Mr. Donovan has delivered addresses at several technology and financial services forums and led seminars at the undergraduate and graduate level. He received the Insurance and Technology Elite 2002 award and was recognized by the CIO Forum as one of the top Financial Services IT Executives, 2001-2003. He holds a Bachelor's in Business Administration from University of Massachusetts and is a former U.S. Army officer. ABOUT SYNTEL Syntel (NASDAQ: SYNT) is a leading global provider of custom outsourcing solutions in a broad spectrum of information technology and information technology-enabled services. The Company's vertical practices support the entire Design-Build-Operate-Optimize lifecycle of systems and processes for corporations in the Financial Services, Insurance, Retail, Health Care and Automotive industries. The first US-based firm to launch a Global Delivery Service to drive speed-to-market and quality advantages for its customers, Syntel now leverages this efficient model for the majority of its Global 2000 customers. Recently named one of Forbes Magazine's "Best 200 Small Companies in America," Syntel has 6,093 employees worldwide, is assessed at Level 5 of the SEI's CMMI, BS 7799-2:2002 as well as ISO 9001:2000 certified. To learn more, visit us at: www.syntelinc.com. SAFE HARBOR PROVISION This news release includes forward-looking statements, including with respect to the future level of business for Syntel, Inc. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors set forth in the Company's Annual Form 10-K document dated March 14, 2006. Factors that could cause results to differ materially from those set forth above include general trends and developments in the information technology industry, which is subject to rapid technological changes, and the Company's concentration of sales in a relatively small number of large customers, as well as intense competition in the information technology industry, which the Company believes will increase.
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