GMAC Appoints Sangeet Chowfla President and CEO and Successor to David A. Wilson
Chowfla is a globally recognized and respected executive with deep experience in the technology, telecommunications, and venture capital sectors. Beginning his career in New Delhi with IBM/IDM, Mr. Chowfla went on to spend 18 years with the Hewlett-Packard Company in positions in Europe, the Middle East, Asia Pacific and the US, culminating his tenure as vice president and general manager of the Inkjet Media Division from 1995-2001.
Chowfla then moved to Timeline Ventures as a partner in the venture capital partnership, where he participated in both acquisition and post-acquisition management efforts. In 2007, upon leaving Timeline Partners, Chowfla became the chief strategy officer and executive vice president of the Mobile Services and Global Market Units of Comviva Technologies, a leading Indian telecommunications software company. While at Comviva, Chowfla led multiple business units, dramatically improved revenue performance, drove Comviva's push into Mobile Financial Services, where it is now a top-three player, led the acquisition of an important Indian software developer, and expanded the company's global reach and presence, with offices in 15 countries and customers in more than 100.
Indian by birth, Chowfla is a US citizen currently residing in New Delhi, India. He will relocate to Northern Virginia as part of assuming this new role. Chowfla earned his BA in Economics from St. Stephen's College at Delhi University and his MBA, with a focus on marketing and finance, from the Faculty of Management Studies, Delhi University.
Sangeet Chowfla is just the kind of chief executive the GMAC board had in mind when we began our CEO search earlier this year. His global business experience, his understanding of technology and its impact on consumers, and his understanding of the way companies must anticipate, plan for and actively engage in the changing global marketplace, are skills GMAC will need moving forward. We couldn't be happier with the appointment, with the prospects for GMAC's future or with the person we have chosen to make those prospects a reality.
─ James Bradford, outgoing chairman of the board of GMAC, Dean, and Ralph Owen Professor of Management at the Owen School of Management, Vanderbilt University
"I sought this opportunity because it has such great promise for leading a company with not only a great brand and a history of success, but also a company poised for greater success in the future. The Council ─ the work it does and the products it makes ─ has the potential every day to positively change someone's life," Chowfla said.
"I know for myself that taking the GMAT exam and the opportunities it opened up for me were life-changing," he continued. "GMAC is a great success story, and Dave and the management team have built a foundation any company would be proud of. My job will be to take that strong foundation ─ GMAC 2.0, if you will ─ build on it, shape it for the future, and establish a new, even stronger GMAC: GMAC 3.0. I am excited by the challenge and gratified that the board has chosen to entrust me with this great company, its terrific management team, and its world-class staff."
Taking the GMAT exam and the opportunities it opened up for me were life-changing.
─ Sangeet Chowfla, incoming GMAC President & CEO
"Mr. Chowfla is joining GMAC at a time of great opportunity as well as change in the graduate management education marketplace," said Dina Dommett, incoming chair of the GMAC Board (July 2013) and executive director, Leadership Programs, London Business School. "The globalization of management education has been a constant, yet today that globalization is occurring at a faster pace and with technology playing an ever greater role. Mr. Chowfla's experience as a technology executive, his international experience as a manager and leader, coupled with his understanding of global markets, are perfectly suited to the challenges facing GMAC, and I look forward to working with him. The London Business School is committed to helping GMAC navigate the changing marketplace, and Mr. Chowfla is a terrific choice to lead that effort."
Patrick J. Shooltz, chair of the GMAC CEO search committee and senior vice president and regional director at New Boston Fund, Inc., said, "Mr. Chowfla's selection to lead GMAC is the result of a search that was global from the minute it began. GMAC was very fortunate to have attracted a deep and diverse pool of extremely talented applicants. I believe GMAC's status as an industry leader in assessments, its global reach and the attraction of leading such a dynamic organization at this important time in its history allowed GMAC to recruit such a sterling choice for CEO as we have in Mr. Chowfla. I compliment the work and dedication of the search committee and the full board in reaching this outstanding result."