Ramraj leaves Sify

By agencies   |   Wednesday, 19 July 2006, 07:00 Hrs
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CHENNAI: R. Ramraj has resigned from Sify as Managing Director and CEO on Monday. In a statement issued by the company, Ramaraj was leaving to pursue other interest and opportunities. He is currently in talks with the company for a smooth transition and has also agreed to work as a consultant. Raju Vegesna, the current chairman, Sify, will be filling in his vacancy and be the company’s managing director & CEO. The news came after Sify recorded its quarterly results recording a net profit of $1.36million for this year, as against a net loss of $2.14million in the corresponding period of the previous year. Vegesna acquired Satyam’s stake in Sify in September 2005 for over $60 million. Explaining the investment in a new Data Center in Bangalore to meet growing demands and complete the acquisition of Globe Travels, U.S, Durgesh Mehta, CFO, Sify said “We intend to extend our network infrastructure and reach to service growing demand from both the enterprise and consumer segments.”