INSUBCONTINENT EXCLUSIVE:
CHENNAI: Cognizant on Thursday said that its board has called former Infosys executive Ravi Kumar S as CEO and a member of the board,
Kumar prospers Brian Humphries, who had a turbulent period at the IT company given that 2019
To assist in a smooth transition, Humphries would remain with the company as a special consultant until March 15, Cognizant stated
The relocation comes at a time when experts had actually noted throughout the current earnings that the performance of the company
necessitated management modifications at the business
Continued underperformance relative to its Tier I peers will amplify pressure on the board to examine managements performance and
execution, demanding responsibility and possibly causing executive function modifications, Wedbushs Moshe Katri stated in a note
then.Cognizant on Thursday likewise revised its revenue guidance
It now anticipates 4th quarter and full-year income of roughly $4.8 billion and $19.4 billion, respectively, compared to previous
expectations of $4.72-$4.77 billion for the 4th quarter and $19.3 billion for the full year
This shows a YoY increase of approximately or 4.1% in consistent currency terms for the fourth quarter and growth of approximately 7.5% for
Kumar signs up with Cognizant after a 20-year profession at Infosys, where he held different management roles, most recently acting as
President from January 2016 through October 2022
He earned his bachelors degree in engineering from Shivaji University and his MBA from Xavier Institute of Management, India
I am honoured to sign up with Cognizant, a company I have long appreciated for its dedicated customer focus and its track record of
development, Kumar stated
I eagerly anticipate working with Steve, the remainder of the board, and the management team to catch the numerous opportunities ahead
The company likewise announced that Stephen J Rohleder, a member of Cognizants Board since March 2022, has actually been elected as the
Former Chair Michael Patsalos-Fox will remain on the board as an independent director
The board is focused on placing Cognizant to reaccelerate development and drive shareholder value, Cognizants new chair of the board
As a tested leader with deep experience developing global skill and building a culture of success, we believe Ravi is the ideal individual
to take Cognizant into its next stage of growth, he included
Humphries said: I take pride in our groups achievements during my tenure as CEO
Our brand name is more noticeable, our portfolio is more powerful, our customer relationships are more consultative and we are better lined
up to high development digital sections within our market
The business is in a terrific position for success
Cognizant had actually formerly designated Kumar as the president of Cognizant Americas, and Surya Gummadi, a 24-year veteran of Cognizant,
has now been called for the very same function.
