Infosys has announced that the board of directors at its meeting on Saturday has accepted the resignation of M.D. Ranganath as the Chief Financial Officer and a key managerial personnel. Ranganath will be continuing his services in his current position as Chief Financial Officer till 16th of November, 2018. The board will be searching for the next CFO on immediate basis. In abandonment of his resignation, Ranganath mentioned, “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.”
Stating further, Ranganath said, “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 three 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.”
Nandan M Nilekani, Chairman of the Board aforesaid, “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 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 endeavours.”
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Salil Parekh, Chief Executive Officer said, “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. I thank him for his lasting contribution and wish him all the best.”
During his long tenure of 18 years in the company, Ranganathan has been an active person in the leadership team and has also played various leadership roles in the areas like 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.