Infosys chief financial officer (CFO) Rajiv Bansal has resigned, replaced by M.D. Ranganath..

Country’s second largest software services firm Infosys today said its Chief Financial Officer Rajiv Bansal has resigned from the company.

He will be replaced by M D Ranganath, who has been with the company for nearly 15 years.

Bansal, who has also been the executive vice-president, however, will continue as an advisor to the company’s chief executive Vishal Sikka and the board of directors till December 31 for a smooth transition. ”I would like to thank Rajiv for his outstanding contribution to the company and for being a great partner over the past 16 months,” Sikka said in a statement.

 

“I am proud of what we have achieved as a team and am sure that Infosys, under the leadership of Vishal, will scale new heights in the times ahead,” Mr Bansal said.

As CFO and executive vice-president, Bansal led the $8.7 billion company’s financial strategy and was instrumental in being a part of its transformational journey. ”He’s a brilliant CFO and we will miss him even as we respect his decision and wish him continued success in his future endeavours,” Sikka said.

 

Rajiv Bansal will continue as an advisor to the CEO and the Board through December 31, 2015 in order to provide a smooth transition, Infosys said.

Recalling that it was a privilege to work at Infosys, Bansal said he had a rewarding experience and proud of what the company achieved under Vishal’s leadership. ”I am sure that Infosys, under the leadership of Vishal, will scale new heights in the times ahead,” Bansal noted in the statement. Bansal is the third high-profile CFO to quit the IT bellwether in the last four years after V. Balakrishnan and M.D. Mohandas Pai left the company in 2013 and 2011 respectively. Unlike Bansal, they were also directors on the company’s board.

Ranganath, who held leadership positions during his 15-year tenure with the company, is executive vice president and head of strategic operations, responsible for planning, risk management, mergers and acquisitions and corporate marketing. ”Over the last 16 months, I have come to know Ranganath as a passionate and balanced leader with ability, knowledge and integrity. We welcome him as our new CFO,” Sikka averred. Ranganath was also chief risk officer for over five years, implementing the company’s enterprise risk management programme and leading cost optimisation initiatives as senior vice-president in the chairman’s office.

In earlier roles at the company, he was the Chief Risk Officer for over five years, implementing the Enterprise Risk Management Programme and leading cost optimisation initiatives as Senior Vice President in the Chairman’s office.

A post graduate (PGDM) from the IIM, Ahmedabad, he has also worked with ICICI Limited before joining Infosys.

“Over the course of the last 16 months, I have come to know Ranga as a passionate leader and a balanced leader with tremendous ability, know ..

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