Grid Dynamics to Appoint Rajeev Sharma Managing Partner of APAC and Promote Dr. Eugene Steinberg to Chief Technology Officer

Key Takeaways:

• Grid Dynamics announces two key executive appointments effective April 1, 2025.
• Rajeev Sharma, current CTO, will be appointed as Managing Partner of APAC to drive regional expansion, engineering excellence, M&A, and strategic partnerships across the Asia-Pacific region.
• Dr. Eugene Steinberg, Distinguished Technical Fellow, will become Chief Technology Officer, leading AI innovation and advanced technology solutions.
• Strategic leadership appointments to strengthen execution of Grid Dynamics' GigaCube growth strategy.

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) (Grid Dynamics), a leading provider of technology consulting, platform and product engineering, AI, and digital engagement services, today announced leadership transitions aimed at expanding its global footprint and accelerating technology innovation. Effective April 1, 2025, Dr. Eugene Steinberg will be promoted to Chief Technology Officer (CTO), while Rajeev Sharma, the current CTO, will assume the responsibilities of Managing Partner (MP) of APAC.

A founding engineer at Grid Dynamics and most recently serving as Distinguished Technical Fellow, Dr. Steinberg brings extensive expertise in artificial intelligence, machine learning, information retrieval, and scalable distributed systems to his new role. Throughout his tenure at Grid Dynamics, Dr. Steinberg has been instrumental in conceiving and scaling the company's technology practices, leading mission-critical transformation programs for Fortune 1000 clients while pioneering breakthrough solutions in AI, search, and cloud-native platform development. His leadership has been crucial in establishing Grid Dynamics as a technical powerhouse in digital transformation.

"I am deeply humbled and honored to lead Grid Dynamics' exceptional technology team," said Dr. Steinberg. "It's an extraordinary time to drive our innovation strategy forward, as AI and advanced digital solutions are reshaping entire industries. I've seen firsthand how well-architected systems, engineering brilliance and dedication can transform challenges into breakthroughs within months, not years. I am committed to furthering the spirit of innovation and technical excellence that has distinguished Grid Dynamics, while expanding our capabilities in AI and platform engineering to deliver real, measurable impact for our clients."

In his new role as MP of APAC, Mr. Sharma will oversee business expansion, engineering excellence, M&A, and strategic partnerships across the Asia-Pacific region. As Grid Dynamics' CTO since 2021, he has driven significant technological advancements, including expanding the company's AI capabilities and strengthening partnerships with major hyperscalers. He played an instrumental role in spearheading Grid Dynamics' expansion into India, which has grown to become one of Grid Dynamics' top three delivery locations. Under his technology leadership, Grid Dynamics has achieved over 100 successful AI implementations and increased partnership-driven revenue to 18% of total revenue.

"The APAC region, particularly India, has emerged as a strategic hub for global digital transformation, with its deep talent pool and growing ecosystem of Global Capability Centers," said Mr. Sharma. "Having led large-scale technology transformations for Fortune 1000 clients and overseen our successful entry into India, I anticipate tremendous opportunity to accelerate Grid Dynamics' growth in the region while maintaining our high standards of engineering excellence. My focus will be on expanding our technical capabilities, fostering strategic partnerships, and identifying targeted M&A opportunities that strengthen our position in key markets."

These leadership changes reflect Grid Dynamics' commitment to GigaCube, the company's growth strategy that emphasizes three pillars: geo-scalability, innovation, and industry expansion. With Dr. Steinberg at the helm of Grid Dynamics' technology portfolio and Mr. Sharma leading APAC expansion, the company is positioned to unlock new value for investors and deliver innovative services to global clients across diverse industries.

"Positioning Dr. Steinberg and Mr. Sharma in these strategic roles sets the stage for a powerful blend of continued technical innovation and further expanding our global reach," said Leonard Livschitz, CEO of Grid Dynamics. "Eugene's technical mastery and leadership unite teams and drive transformative outcomes, and Rajeev's record of orchestrating large-scale change is equally impressive. With this alignment, we reaffirm our commitment to delivering enduring success for our clients and investors."

About Grid Dynamics

Grid Dynamics (NASDAQ:GDYN) is a leading provider of technology consulting, platform and product engineering, AI, and digital engagement services. Fusing technical vision with business acumen, we solve the most pressing technical challenges and enable positive business outcomes for enterprise companies undergoing business transformation. A key differentiator for Grid Dynamics is our 8 years of experience and leadership in enterprise AI, supported by profound expertise and ongoing investment in data and ML platform engineering, cloud platform and product engineering, IoT and edge computing, and digital engagement services. Founded in 2006, Grid Dynamics is headquartered in Silicon Valley with offices across the Americas, Europe, and India. Follow us on LinkedIn.

Forward-Looking Statements

This communication contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts, and involve risks and uncertainties that could cause actual results of Grid Dynamics to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "estimates," "anticipates," "expects," "intends," "plans," "may," "will," "potential," "projects," "predicts," "continue," or "should," or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include, without limitation, quotations and statements regarding the expected benefits of our capabilities and our company's future growth including with customers and GigaCube strategy.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Grid Dynamics' control and are difficult to predict. Factors that may cause such differences include, but are not limited to our ability to achieve its expected benefits, as well as any factors limiting our capabilities, the benefits of our services and products, and our company's growth strategy.

Grid Dynamics cautions that the foregoing list of factors is not exclusive. Grid Dynamics cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Grid Dynamics does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Further information about factors that could materially affect Grid Dynamics, including its results of operations and financial condition, is set forth under the "Risk Factors" section of the Company's annual report on Form 10-K filed February 27, 2025, and in other periodic filings Grid Dynamics makes with the SEC.

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Media Contact:

Cary Savas

+1 (650) 523 5000

csavas@griddynamics.com