Mastech Digital Appoints New CFO and COO

PITTSBURGH - Mastech Digital, Inc. (NYSE American: MHH), a provider of Digital Transformation Services, announced today that Kannan Sugantharaman will take over as Chief Financial and Operations Officer on April 14, 2025. Sugantharaman succeeds Jack Cronin, who is stepping down after a 27-year tenure as the company’s Chief Financial Officer. The transition comes as Mastech maintains a strong financial position, with InvestingPro data showing a healthy current ratio of 3.22 and a conservative debt-to-equity ratio of 0.04.

Sugantharaman, who most recently served as CFO for Omega Healthcare Management Services, brings a wealth of experience in financial management and operational efficiency to Mastech Digital. His previous role at Cognizant Technology Solutions as CFO for Global Delivery Operations highlights his strong background in the technology sector.

In his dual role, Sugantharaman will oversee the company’s global financial strategy, including planning, accounting, reporting, and compliance. He will also focus on enhancing operational efficiencies across Mastech Digital’s worldwide functions. The company generated revenue of $198.94 million in the last twelve months, maintaining a gross profit margin of nearly 28%. According to InvestingPro analysis, which offers 8 additional key insights about Mastech’s financial health, the company is expected to see net income growth this year.

Nirav Patel, President and CEO of Mastech Digital, expressed confidence in Sugantharaman’s ability to contribute to the company’s transformation into a data and AI-led technology services firm. Patel praised Sugantharaman’s deep financial and operational expertise as critical to driving the company’s growth and global expansion.

Jack Cronin, the outgoing CFO, has been credited with leading Mastech Digital through significant milestones, including the 2008 spin-off from iGATE Corporation. Cronin’s leadership has been marked by financial discipline and a pragmatic approach to the company’s growth. Patel, on behalf of Mastech Digital, thanked Cronin for his dedicated service and wished him well in his future endeavors. Cronin will remain with the company until May 30, 2025, to ensure a smooth transition.

Mastech Digital specializes in providing technology talent and innovative solutions to drive digital transformation and leverage data and analytics. The company operates globally with headquarters in Pittsburgh, PA, and delivery centers in North America and India.

This leadership change comes as Mastech Digital continues to navigate the evolving digital landscape and aims to strengthen its market position in technology services.

The information in this article is based on a press release statement from Mastech Digital, Inc.

In other recent news, Mastech Holdings Inc reported a strong financial performance for the fourth quarter of 2024, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $0.23, nearly double the forecasted $0.115, and reported revenues of $50.75 million, exceeding the anticipated $49.24 million. This marks a significant year-over-year revenue increase of 10.2%, with a record gross margin of 29%. Despite these positive financial results, Mastech Holdings did not provide specific financial guidance for 2025, citing a focus on strategic refinement and potential government sector opportunities. The company is emphasizing AI-driven digital modernization as a key growth driver, although booking challenges and delays were noted in the fourth quarter. Analysts from Sachs Investment Research and Sidoti and Company raised concerns about market uncertainties affecting enterprise decision-making and the company’s future revenue streams. Mastech Holdings continues to explore AI-driven initiatives to enhance its market position while maintaining a solid financial footing with no bank debt and substantial cash reserves.

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