Infosys Begins Search for New CFO as Ranganath Resigns

Infosys Begins Search for New CFO as Ranganath Resigns

Bengaluru: The key managerial personnel, M D Ranganath, Chief Financial Officer of Infosys has resigned from his post. He will be serving the company till November 16. With this, the company has started the search for a new CFO.

In a statement, Infosys informed that M D Ranganath has decided to step down from the post of Chief Financial Officer as he plans to pursue professional aspirations. The board has accepted his resignation.

The statement released by the company read, “During his long tenure of 18 years in Infosys, Ranganath 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.”

Related: Infosys Hands Over a Strict Job Contract to its CEO

Notably, it was earlier this year only when Ranganath moved to Bengaluru from the US so as to work closely with Bengaluru-based CEO Salil Parekh. It was last year in July that he was shifted to the US to which company said that he was shifted there for business reasons.

Responding to Ranganath’s resignation, the company released a statement in which Nandan M Nilekani, Chairman of the Board was quoted saying, “With Ranganath 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 Ranganath for his excellent contribution to the company and wish him all the very best in his endeavours.”