Infosys CFO Ranganath resigns

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Infosys CFO M.D. Ranganath

Infosys CFO M.D. Ranganath

Mumbai: Infosys Ltd on Saturday said its board had accepted the resignation of chief financial officer (CFO) M.D. Ranganath.

Ranganath had been appointed as the CFO of India’s second-biggest software services exporter in 2015. Popularly called Ranga, he will continue in his current position as chief financial officer till November 16, 2018, Infosys said in a stock exchange filing, without giving a reason for the resignation.

During his 18 years at Infosys, Ranganath has been part of the leadership team, and played several leadership roles in the areas of consulting, finance, strategy, risk management and mergers & acquisitions (M&As).

”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,” Chief Executive Officer Salil Parekh was quoted in the BSE filing.

The company’s board will immediately commence the search for the next CFO, Infosys said.

“After a successful career spanning 18 years in Infosys, including as CFO for the last three crucial years, I now plan to pursue professional opportunities in new areas,” Ranganath said. ”I am grateful to Infosys for giving me the opportunity of serving as CFO of this global iconic 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 three crucial years, delivered a strong and resilient financial performance on multiple fronts, implemented an efficient capital allocation policy and earned the respect of 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,” Board chairman Nandan Nilekani said.

(With inputs from Reuters)

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