Exhibit 10.1
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): July 22, 2019
StarTek, Inc.
(Exact name of registrant as specified in charter)
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Delaware |
1-12793 |
84-1370538 |
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(State or Other Jurisdiction of Incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
Carrara Place
4th Floor Suite 485
6200 South Syracuse Way
Greenwood Village, Colorado 80111
(Address of Principal Executive Offices) (Zip Code)
(303) 262-4500
(Registrant’s telephone number, including area code)
(Former name, former address and former fiscal year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following 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))
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
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Common Stock, $0.01 par value |
SRT |
New York Stock Exchange, Inc. |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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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. |
On July 22, 2019, the Board of Directors of StarTek, Inc. (the “Company”) appointed Rajiv Ahuja to serve as the new Global Chief Operating Officer of the Company. Mr. Ahuja succeeds Pete Martino, Chief Operating Officer of the Americas and Philippines, and Sandeep Gulati, Chief Operating Officer of APAC and South Africa, each of whom will be leaving the Company to pursue other interests.
Mr. Ahuja, age 56, served as the SVP & Country Manager India, China, Malaysia and Japan at Convergys from August 2015 until October 2018. Prior to Convergys, Mr. Ahuja was associated with Aegis for 12 years in various leadership roles, most recently as President, ASEAN & ANZ.
In connection with his appointment as Global Chief Operating Officer, Mr. Ahuja entered into a letter agreement that provides an annual base salary of INR 10 million (approximately $144,980), annual total fixed compensation of INR 25 million (approximately $362,450) and a target annual bonus opportunity of 60% of his total fixed compensation. In addition, Mr. Ahuja will be paid an annual retention incentive of INR 5 million (approximately $72,490) on each annual anniversary of the date of his appointment as Global Chief Operating Officer. The letter agreement provides that the Company reserves the right to change Mr. Ahuja’s compensation structure from time to time.
The foregoing summary of the letter agreement does not purport to be complete and is subject to, and qualified in its entirety by the full text of the letter agreement, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
A press release announcing the appointment of Mr. Ahuja is filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
There are no arrangements or understandings between Mr. Ahuja and any other person pursuant to which he was appointed as an officer and there are no family relationships between Mr. Ahuja and any director or executive officer of the Company. Mr. Ahuja has not entered into or proposed to enter into any transactions required to be reported under Item 404(a) of Regulation S-K.
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Item 9.01 |
Financial Statements and Exhibits. |
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Exhibit Number |
Exhibit Description |
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10.1 |
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99.1 |
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.
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STARTEK, INC. |
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Date: July 23, 2019 |
By: |
/s/ Lance Rosenzweig |
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Lance Rosenzweig |
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President and Chief Executive Officer |
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Exhibit 10.1
Exhibit 99.1
Startek Names Rajiv Ahuja as Global Chief Operating Officer
GREENWOOD VILLAGE, Colorado – July 23, 2019 – Startek, Inc. (NYSE: SRT), a global provider of customer experience management solutions, appointed Rajiv Ahuja as the company’s new Global Chief Operating Officer (COO). Effective immediately, Rajiv will assume responsibility for global operations and customer success at Startek.
“These organizational changes are the next step in the evolution of our company,” said Lance Rosenzweig, Global CEO of Startek. “To be the premier partner for customer experience solutions, Startek is continuing to invest in our global leadership team. Rajiv will help Startek deliver best-in-class performance with a client-centric focus, and continue to instill a purpose-driven, tech-enabled, and collaborative culture.”
Rajiv is a multi-faceted leader with decades of experience in the customer experience industry and has a proven track record of taking customer-centric organizations to the next level. He previously served as the SVP & Country Manager India, China, Malaysia and Japan at Convergys. Prior to Convergys, Rajiv was associated with Aegis for 12 years in various leadership roles, most recently as President, ASEAN & ANZ. Earlier, Rajiv headed AOL’s captive center in Bangalore, headed Dell's US Consumer Care Division in India and served as the India COO of VCustomer.
“Startek’s strategy has never been more compelling, with a culture focused on being passionate about our client’s brands and delivering exceptional customer experiences,” said Rajiv Ahuja, Startek’s Global COO. “I am incredibly energized to help lead the company to its next phase of growth, innovation, and operational excellence.”
Rajiv earned an Honors Degree in Commerce from St. Xavier's College in Kolkata and a certificate in International Management from Stanford University and National University of Singapore.
As part of this announcement, both Pete Martino, COO of the Americas and Philippines, and Sandeep Gulati, COO of APAC and South Africa, will be leaving the company to pursue other interests. Both Pete and Sandeep provided significant contributions Startek and Aegis, and we wish them all the best in their future endeavors.
About Startek
Startek is a leading global provider of business process outsourcing solutions. The company provides customer experience management, back office and technology services to corporations around the world across a range of industries. Operating under the Startek and Aegis brands, the company has more than 45,000 outsourcing experts across 54 delivery campuses worldwide that are committed to enhancing the customer experience for clients. Services include omnichannel customer care, customer acquisition, order processing, technical support, receivables management and analytics through automation, voice, chat, email, social media and IVR, resulting in superior business results for its clients. To learn more about Startek’s global solutions, please visit www.startek.com.
Forward-Looking Statements
The matters regarding the future discussed in this news release include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are intended to be identified in this document by the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should” and similar expressions. As described below, such statements are subject to a number of risks and uncertainties that could cause Startek's actual results to differ materially from those expressed or implied by any such forward-looking statements. Readers are encouraged to review risk factors and all other disclosures appearing in the Company's Form 10-KT for the fiscal year ended December 31, 2018, as filed with the SEC on March 14, 2019, as well as other filings with the SEC, for further information on risks and uncertainties that could affect Startek's business, financial condition and results of operation. Copies of these filings are available from the Securities and Exchange Commission, the Company’s website or the Company’s investor relations department. Startek assumes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date herein.
Investor Relations:
Sean Mansouri, CFA or Cody Slach
Gateway Investor Relations
949-574-3860
investor@startek.com