Quess Corp Chairman Explains Rationale Behind Demerger to Simplify Business Structure and Enhance Focus

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Posted by pallavi on 2024-11-29 17:20:57 |

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Quess Corp's chairman, Ajit Isaac, explained the rationale behind the company's demerger plan, which will see the business split into three independent entities: workforce management, facility management, and technology solutions. Isaac highlighted that the company’s evolution over time, from a human resources company to a diversified business services enterprise, led to the decision to simplify the group structure.

He mentioned that Quess Corp’s journey started in 2007-08, initially as a human resources company, and later expanded into general and professional staffing. The company then ventured into business services, which led to the inclusion of technology and facility management. Fairfax, a Canadian investment firm, became the largest shareholder in 2013, and Quess went public in 2016.

Each of Quess Corp's segments became an industry leader in its respective field, with the human resources division employing 440,000 people, the technology solutions segment (GTS) employing nearly 50,000 people, and the facility management business nearing 100,000 employees.

Isaac emphasized that the demerger will address the "conglomerate discount" often applied to large, diversified companies by allowing each entity to focus on its core business. This will make it easier for investors and analysts to evaluate the potential of each business separately.

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