Technology-enabled staffing and outsourcing services firm Quess Corp on Friday, December 23, said its board has approved the withdrawal of the merger scheme with business process outsourcing firm Allsec Technologies. Back in June this year, in a joint statement Allsec Technologies said it will merge with Quess Corp in an all-stock deal.

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On the scheme becoming effective, all the subsidiaries of Allsec will become subsidiaries of Quess. Allsec, with more than 400 clients across 37 countries, is a global leader in outsourcing solutions with expertise in providing digital business services and human resource outsourcing services.

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Also, Quess Corp announced the appointment of Kamal Pal Hoda as the group chief financial officer of the company and the superannuation of N. Ravi Vishwanath in the year 2023.

"Based on recommendations of the Nomination and Remuneration Committee and the Audit Committee, the Board has approved the appointment of Kamal Pal Hoda as the Group Chief Financial Officer and KMP of the company with effect from January 10, 2023, in place of N. Ravi Vishwanath," the company said.

Kamal is a chartered accountant having extensive experience in core business finance with reputed Indian listed companies. He has held strategic positions with conglomerates, leading large finance teams and also played a pivotal role in the implementation of various finance ERPs and digital initiatives in his work experience.

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Before joining Quess, he was the chief financial officer with Vedanta Group company Hindustan Zinc's mining business. He has played a pivotal role in the implementation of various finance ERPs and digital initiatives during his work experience.

He was listed among the 'Top 250 Great Managers' across India by People Business consulting and has won many accolades for leadership excellence.

Shares of Quess Corp ended at Rs 402.80, down by Rs 15.15, or 3.62 percent on the BSE.

(Edited by : Shoma Bhattacharjee)