Monday, July 16, 2018

Cybage Makes Addition to its Board of Directors; Greg Butterfield Appointed to Board of Directors

Underlining its push towards sustaining its impressive growth momentum, Cybage, a leading global technology consulting organisation specialising in outsourced product engineering services, has recently appointed Greg Butterfield to its Board of Directors. The move follows close on heels of the appointment of Walter Mastelinck to the Cybage board and marks another major milestone for the company, which has been bolstering its ranks with highly-experienced and successful business leaders. Greg will be responsible for guiding the long-term vision, strategy, and business growth at Cybage.

Greg has several major accomplishments to his name. He joined Altiris in February 2000 as its Chairman of the Board, President, and CEO, guiding the company to eight consecutive years of revenue growth and profitability before being acquired by Symantec. By the time of the acquisition, Altiris’ annual revenues had grown by around 100 times to exceed $300 million, from $3 million in 2000.

While at Altiris, he was also the driving force behind eleven acquisitions and completed a successful IPO in 2002 in the face of a large-scale economic downturn, following it up in August 2003 with a successful secondary offering. In the same year, Greg was named the Ernst & Young Entrepreneur of the Year. He was invited to the 2006 World Economic Forum as a Technology Pioneer. Greg joined Symantec through the company’s acquisition of Altiris in April 2007, serving as the Group President for Symantec’s $4 billion Server and Storage business units. Greg has also served as the CEO of Vivint Solar, a leading full-service residential solar integrator.

Speaking on the appointment, Arun Nathani, CEO & MD, Cybage, said, “Greg is highly regarded in the entrepreneurial circles for his ability to identify and nurture high-potential ventures into market leaders. We are excited to have him on board, along with his impressive wealth of business experience that he has amassed over his career. By bringing onboard such a distinguished business leader, we aim to further strengthen our business operations and build on our market success. We are confident that, with Greg amongst those guiding its vision and strategy, Cybage will be able to accelerate its growth trajectory and unlock unparalleled success in the future.”

Currently serving as the Founder and Managing Partner at SageCreek Partners, Greg has an extensive track record of building and nurturing successful companies. Under his able leadership, Sage Creek Partners has helped more than 100 companies realise their business potential by extending end-to-end operational, networking, human capital, and technological support; several SCP clients have gone on to have successful IPOs and establish themselves as leading players in their respective domains. Greg has also served as the Chairman of the Board of the Utah Information Technology Association.

Speaking on joining the board at Cybage, Greg Butterfield said, “I have always been drawn to businesses which demonstrate a strong future growth potential and have the capability to scale swiftly without comprising on their profitability. As a domain leader in the technology and product engineering space, I believe Cybage is perfectly positioned to leverage its cutting-edge technological capabilities and capitalise on the massive business opportunities that will arise in the near future. With the world undergoing a widespread digital transformation at present, I am looking forward to a long and fruitful association with Cybage and aim to help the company achieve its true potential.”

HDFC ERGO Launches Title Insurance Cover for Property Developers 

HDFC ERGO, country’s third largest non-life insurance provider in the private sector has announced the launch of ‘Title Insurance Policy’, a first of its kind product in the private insurance segment in India.

This specialty insurance product provides Indemnity to property developers and the subsequent owners of the property against losses and risks related to defects in Property Title arising out of Third Party challenges not discovered prior to the commencement date of the policy due to the Title of Property belonging to someone other than the Insured, Descriptions & Plans in Historic deeds of the property being inadequate, Historic transaction being subject to an act of fraud or forgery by a third party that adversely affects insured’s rights over the title of the property, Title to the Property being subject to Unknown Burdens or Discharge of Burdens which may have been imposed in historic deeds executed prior to the commencement date etc.

Moreover, defence costs / Legal costs incurred are also covered under the policy. Also, certain known defects in the title, may also be covered under the policy by specific underwriting assessment for an additional premium.

The product has been developed stemming from the requirement of the Real Estate Regulation and Development Act 2016 (RERA), which mandates the purchase of Title Insurance for all new and ongoing property developments registered with the regulatory body.

Commenting on the launch of the new product, Anuj Tyagi, Executive Director & Chief Distribution Officer, HDFC ERGO General Insurance Company, "We are always looking at opportunities to offer protection to the customers from any unforeseen financial losses. Title insurance is one such innovative product that will provide customers’ the peace of mind from Title risks related to the land on which the property rests. It is crucial and a must-have, for developers not only because it is mandatory but is as an effective risk transfer mechanism.” 

This new Title insurance policy will prove beneficial to real estate developers, property investors and housing finance companies. The policy can be obtained by developers and is subsequently assigned to the association of allotees or allotees /members of the housing societies, who are the ultimate beneficiaries of the policy.

For more information on the policy and the full range of HDFC ERGO Insurance products please contact HDFC ERGO representative. In addition, for further details on risk factors, exclusions, terms and conditions please read the sales brochure before concluding a sale.

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