MD Ranganath, as Chief Financial Officer (CFO), oversaw key functions across the Infosys Group
The Hush Post: In a big development, MD Ranganath, the Chief Financial Officer (CFO) of the Infosys Group has resigned after putting in over 17 years in the group.
The Infosys said in a regulatory filing with the BSE: “The Board at its meeting held today has accepted the resignation of MD Ranganath as the Chief Financial Officer and Key Managerial Personnel of the Company.”
A report said that MD Ranganath will continue in his present position as the Infosys DFO till November 16 this year. The Board will immediately commence the search for the next CFO, the filing with the BSE said.
Citing the reason behind his decision, the Infosys CFO said that he has decided to quit for pursuing professional opportunities in new areas. “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,” Ranganath was quoted as saying in the report.
Ranganath was further quoted: “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.”
He had taken over this role in 2015 after the then Infosys CFO Rajiv Bansal had resigned.
“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,” Nandan Nilekani, the board chairman of Infosys was quoted as saying.
MD Ranganath oversaw key functions across the group as the Infosys CFO. His functions included corporate finance, taxation, treasury, mergers and acquisitions, risk management, and investor relations. Ranganath also played a vital role in strategy execution and in the transformation journey of Infosys, the report said.