Oracle has announced its new Managing Director and Chief Executive Officer Chaitanya M. Kamat also known as Chet Kamat for its financial services software arm Oracle Financial Services Software (OFSS).
“Chet Kamat is a proven financial services executive with more than 25 years of experience leading large organizations. After a diligent process to find the right leader to succeed Raman, we are fortunate to announce his appointment,” said Frank Brienzi, Senior Vice President and General Manager, Oracle Financial Services Global Business Unit.
N. R. Kothandaraman was the company’s Former Managing Director and Chief Executive Officer, who voluntarily resigned from the service after serving the company for about 25 years. However, he would continue to serve as Executive Advisor for this calendar year.
“This is an exciting time for the industry and OFSS is well positioned with a broad product footprint and a differentiated, compelling, value proposition. I am pleased to join this team,” Kamat said.
Besides, S. Venkatachalam, who has already served in the financial services industry, has been appointed as a new independent director on the OFSS Board.