Global software major Infosys on Thursday said telecom Bharti Airtel's former executive Nilanjan Roy would be its new Chief Financial Officer (CFO) from March 1, 2019.
"The Board of Directors has appointed Nilanjan Roy as CFO of the company, effective March 1, 2019," said the city-based IT behemoth in a statement here.
Interim CFO Jayesh Sanghrajka will resume his responsibilities as Deputy CFO after 52-yer-old Roy joins on March 1.
Sanghrajka, vice-president, was appointed to the executive post on November 15 following the resignation of former CFO M.D. Ranganath.
"Roy comes to us with rich global experience. We express our appreciation to Sanghrajka for taking charge as interim CFO and thank him for ably executing the responsibility," said Chief Executive Salil Parkeh in the statement.
Roy, who has been with Airtel for 13 years, joins the IT major after being its global CFO. Prior to Airtel, he worked with global FMCG manor Unilever across its global operations for 15 years.
Roy is a Chartered Accountant (CA) and a commerce graduate from the University of Delhi.
Roy will be the fifth CFO of the $11-billion Infosys after Ranganath, Rajiv Bansal, V. Balakrishnan and T.V. Mohandas Pai since 2011. He will also be the first outsider to the post of Infosys CFO.
The company, however, did not disclose the compensation package, including stock options to Roy.
Airtel, on the other hand, said in a filing to the exchanges that it has accepted Roy’s resignation with effect from February 28, 2019 and has appointed Badal Bagri as Chief Financial Officer ('CFO') and KMP of the Company with effect from March 01, 2019.
“Badal Bagri has been with Airtel since January 2017, he is responsible for devising the financial and operational strategy, assisting with a commercial roadmap to realize the long term vision of the organization and driving overall governance. Badal has been instrumental in driving operational efficiencies through cost transformation exercises He has also played a leading role in various mergers and acquisitions, right from deal evaluations to efficient integrations,” Airtel said in a statement.