The Chief Financial Officer at Infosys, M.D.Ranganath will exit the company on November 16 to ‘pursue professional aspirations‘. The Board of Directors at Infosys approved the resignation on Saturday.
‘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 said in his resignation.
This is the fourth exit in 8 months after Vishal Sikka , Ravi Venkatesan and R.Seshasayee. Ravi Venkatesan was the independent Director at Infosys when he quit in May this year. R.Seshasayee was the Non Executive Chairman of the Board when he quit this year.
About M.D.Ranganath
Ranganath served the company for 18 years at various leadership roles in the areas of consulting, finance, strategy, risk management and M&A (Mergers & Acquisitions). He has worked with the Board in formulating and executing strategic priorities for the company.
Ranganath is known to take tough decisions in challenging times, states Narayana Murthy. He took over as the CFO at Infosys in 2015 after the then CFO Rajiv Bansal exited the company. Citing differences with the management team over the acquisition of Panaya.
Infosys quotes
Nandan M Nilekani, Chairman of the Board said, ‘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.’
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. 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.’