Infosys Chief Financial Officer MD Ranganath Steps Down
Infosys on Saturday announced the decision of its chief financial officer MD Ranganath to step down. In a statement, the IT major said its board of directors accepted Mr Ranganath's resignation in a meeting held on the same day, and that it will immediately commence search for his successor. Mr Ranganath, who has served as the company's CFO for past three years, Â will continue in his current position till November 16, 2018, Infosys said.Â
During his 18-year-long stint in Infosys, Mr Ranganath has played several leadership roles in the areas of consulting, finance, strategy, risk management and M&A, said Infosys. Infosys, the second-largest software services exporter, also said that he has worked closely with the board on its committees in formulating and executing strategic priorities for the company.
Mr Ranganath said, "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."
CEO Salil Parekh said: "Ranganath 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 Ranganath will ensure a smooth transition. I thank him for his lasting contribution and wish him all the best."
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