Aeries Technology Announces Strategic Leadership Changes to Strengthen Market Leadership and AI-Driven Operational Excellence

Rhea-AI Summary

Aeries Technology (NASDAQ: AERT) announced strategic leadership changes to strengthen its market position. Ajay Khare, a founding partner, has been appointed CEO, replacing Sudhir Panikassery, who becomes Non-Executive Vice Chairman. Khare, previously serving as Chief Revenue Officer and Chief Operating Officer, brings 25 years of experience in operational expertise and commercial acumen.

Daniel Webb will serve as Chief Financial Officer while maintaining his role as Chief Investment Officer, stepping down from the Board. The company aims to focus on its North American market, optimize cost structure, and enhance AI-driven transformation. These changes are designed to strengthen Aeries' position as a leading provider of global capability center (GCC) solutions, particularly for private equity firms and their portfolio companies.

Positive

• Strategic appointment of experienced founding partner Ajay Khare as CEO
• Consolidation of CFO and CIO roles under Daniel Webb for improved financial efficiency
• Focused strategy on high-value North American market
• Implementation of cost optimization initiatives

Negative

• Multiple simultaneous leadership changes may create temporary organizational uncertainty
• Reduction in Board composition with Webb's departure

NEW YORK, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Aeries Technology, Inc. (“Aeries” or “the Company”) (Nasdaq: AERT), a leading provider of global capability center (GCC) solutions, today announced a strategic leadership realignment to drive sustainable growth and strengthen its market position.

As part of these changes, Ajay Khare, a founding partner of Aeries, has been appointed Chief Executive Officer, succeeding Sudhir Panikassery, who transitions to Non-Executive Vice Chairman on the Board. A key architect of Aeries’ growth since its inception, Ajay has played a pivotal role in shaping the company’s strategy, previously serving as Chief Revenue Officer and Chief Operating Officer. With a unique blend of operational expertise and commercial acumen, his extensive experience partnering with private equity firms and their portfolio companies gives him deep insight into value creation, operational transformation, and scalable growth. His ability to build high-performance teams and enhance efficiencies positions him to lead Aeries’ next phase of expansion.

As CEO, Ajay will focus on driving revenue growth, optimizing service delivery, and strengthening Aeries’ role as the go-to GCC partner for private equity firms. His appointment to the Board of Directors reinforces his leadership in shaping the company’s long-term strategy.

Additionally, Daniel Webb will take on the role of Chief Financial Officer while continuing as Chief Investment Officer. A seasoned investor and former investment banker, Daniel will focus on enhancing capital efficiency, optimizing cost structure, strengthening financial controls, and optimizing resource allocation to support Aeries' long-term growth. As part of this transition, he will step down from the Board.

“These leadership appointments mark a key milestone for Aeries,” said Raman Kumar, Chairman of the Board. “With a strong executive team in place, we believe we are poised to consolidate our position as a leading player in the GCC space. For over 25 years, Ajay has worked with me as a key leader in driving growth and operational excellence across businesses. His strategic expertise and execution capabilities position him well for this next phase of Aeries’ growth, and I am confident the company will continue to thrive under his leadership.”

Ajay Khare added, “I am excited to lead Aeries in its next phase of growth, focusing on operational excellence and value-driven solutions. With a strong foundation in place, we will continue to enhance efficiencies and expand opportunities for our clients and stakeholders.”

With a sharpened focus on its core North American market, an optimized cost structure, and a strong leadership team, Aeries believes it is well-positioned for sustained growth. The company’s disciplined approach—emphasizing high-value engagements, cost efficiency, and AI-driven transformation—reinforces its commitment to delivering best-in-class GCC solutions for private equity-backed businesses worldwide.

About Aeries Technology
Aeries Technology (Nasdaq: AERT) is a global leader in Global Capability Center (GCC) solutions. We establish GCCs for Private Equity’s Portfolio Companies and deliver a comprehensive suite of Advisory & Value Creation solutions. Leveraging advanced technologies like AI and automation, Aeries offers tailored engagement models designed to deliver flexible, impact-driven solutions with measurable outcomes.

Founded in 2012, Aeries Technology has grown to over 1,800 professionals, and its commitment to workforce development has earned it the Great Place to Work Certification for two consecutive years.

Forward-Looking Statements

All statements in this release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate”, “expect”, “hope”, “intend”, “may”, “might”, “should”, “would”, “will”, “understand” and similar words are intended to identify forward looking statements. These forward-looking statements include but are not limited to, statements regarding our future operating results, outlook, financial position, our business strategy and plans, our objectives for future operations, and macroeconomic trends. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the control of Aeries and its subsidiaries, which could cause actual results to materially differ from such statements. The following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: our market opportunity; our ability to maintain the listing of the Class A ordinary shares and the warrants on the Nasdaq Stock Market, and the potential liquidity and trading of such securities; our business development efforts to maximize our potential value and to retain and expand our customer base; our estimates regarding expenses, future revenue, capital requirements and needs for additional financing; our financial performance; our ability to continue as a going concern; the sufficiency of our existing cash and cash equivalents to fund our operating expenses and capital expenditure requirements; our success in retaining or recruiting officers, key employees or directors, or any necessary changes to these positions; changes in applicable laws or regulations in the United States and foreign jurisdictions; our ability to develop and maintain effective internal controls; risks related to cybersecurity and data privacy; general economic and political conditions, such as the effects of the Russia-Ukraine and the Israel-Hamas conflicts, pandemics such as the COVID-19 outbreak, recessions, interest rates, inflation, local and national elections, fuel prices, international currency fluctuations, changes in diplomatic and trade relationships, political instability, acts of war or terrorism and natural disasters; and other factors discussed in our filings with the U.S. Securities and Exchange Commission. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Aeries disclaims any intention to, and undertakes no obligation to, update or revise forward-looking statements, unless otherwise required by law.

Contact
IR@aeriestechnology.com

FAQ

Who is the new CEO of Aeries Technology (AERT) as of February 2025?

Ajay Khare, a founding partner of Aeries Technology, has been appointed as the new CEO, succeeding Sudhir Panikassery.

What changes were made to AERT's executive leadership team in February 2025?

Ajay Khare became CEO, Sudhir Panikassery transitioned to Non-Executive Vice Chairman, and Daniel Webb assumed the role of CFO while maintaining his CIO position.

What is AERT's strategic focus following the 2025 leadership changes?

The company is focusing on the North American market, cost optimization, AI-driven transformation, and strengthening its position as a GCC solutions provider for private equity firms.

How will AERT's new leadership structure impact its business strategy?

The new leadership aims to drive revenue growth, optimize service delivery, enhance capital efficiency, and strengthen financial controls while focusing on high-value engagements and AI-driven transformation.