Infosys Chief Financial Officer MD Ranganath resigns

During his 18 years with the company, Ranganath oversaw several leadership roles in the consulting, finance, strategy, risk management and mergers and acquisition areas of the company.
Image used for representational purpose only. (Photo | File/Reuters)
Image used for representational purpose only. (Photo | File/Reuters)

BENGALURU: IT major Infosys announced on Saturday that its Chief Financial Officer MD Ranganath has resigned from his post and the board of directors had accepted his resignation from his post. Ranganath, who decided to step down, after an 18-year stint with the company (3 years as CFO), to pursue professional aspirations according to Infosys, will continue in his position till November 16 this year. The board has started its search for the next CFO.

According to a statement by Infosys, in his resignation, Ranganath said, "After a successful career spanning 18 years in Infosys including as CFO for the last 3 crucial years, I now plan to pursue professional opportunities in new areas."

Commenting on the development, Nandan M Nilekani, Chairman of the Board said, "With Ranga (Ranganath) as CFO, the company has in the last 3 crucial years, delivered a strong and resilient financial performance on multiple fronts, implemented an efficient capital allocation policy and earned the respect of all stakeholders through enhanced value creation. On behalf of the Board, I thank Ranga for his excellent contribution to the company and wish him all the very best in his endeavours.”

Salil Parekh, Chief Executive Officer, Infosys said, “Ranga and I have worked closely over the past few quarters in shaping the strategic direction of the company. I admire his strong financial acumen, deep understanding of the company’s business and ability to deliver consistent results. He played a crucial role as the CFO and provided strong leadership for the company. I am confident that over the next few months Ranga will ensure a smooth transition. I thank him for his lasting contribution and wish him all the best.”

During his 18 years with the company, Ranganath oversaw several leadership roles in the consulting, finance, strategy, risk management and mergers and acquisition areas of the company.

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