Indian IT major Infosys’s Chief Financial Officer MD Ranganath has resigned. The IT major announced that the Board of Directors at its meeting accepted his resignation as the Chief Financial Officer and a key managerial personnel.
Ranganath will continue in his current position as Chief Financial Officer till November 16, 2018. The Board will immediately commence the search for the next Chief Financial Officer.
In tendering his resignation, Ranganath stated, “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. I am grateful to Infosys for giving me the opportunity of serving as CFO of this global iconic company.”
“I am proud that over the last 3 years, during a critical phase of the company, we delivered strong and consistent financial outcomes, maintained high standards of financial reporting, built a world class finance team, further strengthened the company’s competitive position and thereby enhanced value to the stakeholders. I thank the Board, management team, my colleagues in the finance team and all the stakeholders for their wholehearted support during my tenure. I wish the management team all the best as I pursue opportunities outside the company,” Ranganath added.
During his long tenure of 18 years in Infosys, Ranga has been a part of the Infosys Leadership team and has played several leadership roles in the areas of consulting, finance, strategy, risk management and M&A and has worked closely with the Board and its committees in formulating and executing strategic priorities for the company.
“Over the last 18 years Ranga has played a pivotal role in the growth and success of Infosys. During his long stint in the company, I have seen him in a wide spectrum of leadership roles and in each of them he has delivered results with distinction. With Ranga 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 endeavors,” Nandan M Nilekani, Chairman of the Board said.