UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
As previously announced, on September 14, 2019, Vishal Chhibbar, the Executive Vice President and Chief Financial Officer of ExlService Holdings, Inc. (the “Company”), provided notice to the Company of his resignation. Mr. Chhibar’s resignation became effective December 13, 2019. In connection with such resignation, effective December 13, 2019, Pavan Bagai, 58, who has served as the Company’s President and Chief Operating Officer since 2012, was appointed Interim Chief Financial Officer, effective as of December 13, 2019. It is expected that Mr. Bagai will serve in the Interim Chief Financial role until the appointment of a permanent Chief Financial Officer. Mr. Bagai will continue to serve as the Company’s President and Chief Operating Officer. Biographical and other information concerning Mr. Bagai is included in the Company’s proxy statement for the 2019 Annual Meeting of Stockholders, filed with the Securities and Exchange Commission on April 26, 2019, and is incorporated by reference herein. There were no changes to Mr. Bagai’s compensation package in connection with his appointment as Interim Chief Financial Officer. A press release related to Mr. Bagai’s appointment is attached as Exhibit 99.1 to this report and is incorporated by reference into this Item 5.02.
| Item 8.01 | Other Events. |
On December 16, 2019, the Company issued a press release announcing that the Company’s Board of Directors authorized a $200 million common stock repurchase program. Shares may be purchased through December 31, 2022. A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated by reference into this Item 8.01.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release, dated December 16, 2019 |
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 thereunto duly authorized.
| EXLSERVICE HOLDINGS, INC. | ||
| (Registrant) | ||
| Date: December 16, 2019 | By: | /s/ Ajay Ayyappan |
| Name: | Ajay Ayyappan | |
| Title: | General Counsel and Corporate Secretary | |