The HHMI Board of Trustees has elected Nitin Kotak as the Institute’s next vice president of finance and chief financial officer. Kotak, 53, joins HHMI from Technest Holdings, Inc., where he was chief financial officer and treasurer. He succeeds Edward J. Palmerino, who had held the post since 2006.
“Nitin comes to us with great enthusiasm for our mission and significant experience in financial analysis, reporting, and compliance,” says Cheryl Moore, HHMI’s executive vice president and chief operating officer. “He is a strong addition to our management team and we’re pleased to welcome him to the Institute.”
A native of India, Kotak received a bachelor of commerce degree from the University of Calcutta, where he graduated with first class honors in accounting and auditing. He spent more than 17 years working in a variety of finance-related positions at ITC Limited, the Indian associate of the Fortune 500 company British American Tobacco. He has also worked at India-based Mattel Toys, a subsidiary of Mattel, Inc., and Able Laboratories, Inc., a developer and manufacturer of generic pharmaceuticals.
In 2005, Kotak joined Technest, located in Bethesda, Maryland, as vice president for finance and operations and became chief financial officer and treasurer in 2008. Technest provides advanced sensor technologies and services to the National Institutes of Health as well as national defense, homeland security, military, and intelligence agencies.
At HHMI, Kotak will oversee budget and financial analysis, the controller’s office, treasury, internal audit, and procurement. “I am very excited at this opportunity to be a part of this outstanding organization and work in a spirit of giving back to the community,” says Kotak. “I feel honored to be selected for this great responsibility.”
Kotak also serves as president of the Maryland-based Washington Kali Temple, an Indian religious and cultural center. He and his wife, Dipti, live in Silver Spring and have two sons. Kotak remains a senior member of three major professional institutes in India—the Institute of Chartered Accountants, the Institute of Company Secretaries, and the Institute of Cost and Works Accountants.