Nucleus Software COO steps down

IT company Nucleus Software Exports today announced the resignation of its Chief Operating Officer (COO), Niraj Vedwa.

Vedwa had been associated with Nucleus Software for over a decade. In a statement, the company attributed the move to a change in its management structure effected by the board of directors.

Nucleus Software Chief Executive Officer and Managing Director Vishnu R Dusad will assume the additional charge of company COO as an interim arrangement.

"The company acknowledges the contributions made by Vedwa at Nucleus Software growth during his tenure of over a decade with us," Dusad said in the statement.

Nucleus Software provides IT solutions to banks and financial institutions. The company reported a revenue of Rs 194.15 crore and a net profit of Rs 33.74 crore for the 2009-10 financial year.