Infosys CFO MD Ranganath quits, will continue till Nov 16

Infosys said its chief financial officer M D Ranganath has resigned. Ranganath, the key managerial personnel, will continue on his current role till November 16. Infosys said he has decided to step down to pursue professional aspirations and the board has accepted his resignation.Infosys board would immediately begin search for a new CFO.“During his long tenure of 18 years in Infosys, Ranga(nath) 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,” said the company in a statement.Early this year Ranganath had shifted his base back to Bangalore from the US to operate being close to the Bengaluru-based CEO Salil Parekh. In July last year, the company said he would move to the US for business reasons.“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, was quoted in the statement.

from The Economic Times https://ift.tt/2Mvmjhk