USUpdater Services543996Leadership appointment or

Jigyasa Sharma designated CEO-Designate of subsidiary Matrix from Dec 1, 2026; CEO from April 1, 2027

Updater Services' board approved Mrs. Jigyasa Sharma, its Whole-time Director, as CEO-Designate of subsidiary Matrix Business Services India from Dec 1, 2026 to Mar 31, 2027; she becomes CEO from Apr 1, 2027.

By ScoutQuest · Fri 30 Oct 2026, 8:48 PM IST · 2 min read

CEO-Designate Term

December 1, 2026 till March 31, 2027

CEO Effective Date

April 1, 2027

Current CEO Retirement

March 31, 2027

Who is moving where

• Updater Services has informed the exchanges that Mrs. Jigyasa Sharma (DIN: 10474292), a Whole-time Director of the listed company, will be designated Chief Executive Officer-Designate of Matrix Business Services India Private Limited, a subsidiary of the company.
• Her term as CEO-Designate runs from December 1, 2026 till March 31, 2027.
• She will take over as the Chief Executive Officer of Matrix with effect from April 1, 2027.

How the approvals came about

• The Board of Directors of Matrix, at its meeting held on October 23, 2026, approved her appointment as CEO-Designate and then CEO, subject to the approval of the Board of Updater Services.
• The Board of Directors of Updater Services, at its meeting held on October 30, 2026, accorded its approval to that appointment.
• The company has described the move as part of its succession planning and leadership continuity framework.

What happens to the current CEO

• Mr. Ravi Shankar, the current CEO of Matrix, is due to retire.
• He will continue to be the CEO of Matrix till March 31, 2027.
• After the transition, the update says he will continue to stay associated with the Company in a new capacity.
• So the two roles overlap: the CEO-Designate works alongside the outgoing CEO from December 1, 2026 to March 31, 2027, and takes charge from April 1, 2027.

Brief profile of the incoming CEO

• Jigyasa Sharma is an Executive Director at the UDS Group, where she leads group-level initiatives across strategy, technology and people, working closely with leadership teams across companies.
• Before UDS, she was the Smart Communities Program Manager at US Ignite, working at the intersection of technology, public policy and community innovation, partnering with organisations such as the NSF, Purdue Research Foundation and Toyota Mobility Foundation.
• She has worked with governments and non-profits across India, the U.S., Singapore, China and Indonesia, and previously held research and advisory roles at the Lee Kuan Yew School of Public Policy.
• She holds degrees in Economics from the University of Delhi, Applied Economics from NUS, and Public Policy from UC Berkeley.

Investor takeaway

• This is a leadership succession disclosure at a subsidiary level, with a stated design and handover period rather than an abrupt change.
• The update records the reason as succession planning and leadership continuity, with the outgoing CEO staying associated with the Company in a new capacity after March 31, 2027.
• The disclosure centres on the appointment, its term and the appointee's profile; the change is at Matrix, a subsidiary, and Mrs. Sharma continues as a Whole-time Director of the listed company.

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