New MD at Everonn

Everonn Education Ltd on Friday announced the appointment of Rakesh Sharma, director of the company representing the Dubai-based Varkey Group Ltd, as its managing director (MD). Susha John, co-founder, whole-time director and chief executive officer of Everoon has stepped down from the board and these positions. Her name shall be excluded from the category of ‘promoter and promoter group’ on her request, the company said. These are the latest changes after the Varkey Group, also known as GEMS Education, which has around 43 per cent stake in the company, took over, the management of Everonn earlier this year.

The company was founded by P Kishore, who was arrested last year on bribery charges. In February this year, he resigned as MD and in April, stepped down with his family as promoters of the company.

Sharma joined GEMS Education in September 2008 and is its CEO for Southeast Asia and executive director to the chairman. His appointment as director on the board of Everonn was approved by the shareholders in the annual general meeting on September 25. He has close to 25 years of experience in finance and allied areas of operations.

Susha John was with the company for the past 25 years and made the CEO, exercising the power of MD, in September 2011.. The board said she had explained her intention to step down for attenting to family commitments.