India’s Infosys Chief Financial Officer resigns

Bengaluru: Infosys Chief Financial Officer (CFO) MD Ranganath has resigned and will continue in the executive post till November 16, the IT major said on Saturday.
“The Board of Directors accepted the resignation of Ranganath as the CFO and key managerial personnel.
He will continue in the post till November 16.
The Board will soon search for the next CFO,” said the city-based software firm in a statement here.
Claiming that he resigned to pursue professional opportunities in new areas, Ranganath said he had an 18-year successful career in the $10.9 billion global firm and as its CFO for the past three crucial years.
“I am grateful to the iconic firm for giving me an opportunity to serve as CFO,” said Ranganath in the statement.
Ranganath, 55, is the third CFO to leave Infosys in the last six years after then CFO V. Balakrishnan was elevated to the Board as a Director and head of the company’s back office operations (Infosys BPO) in October 2012.
Balakrishnan left Infosys subsequently in December 2013.
Rajiv Bansal, who succeeded Balakrishnan in November 2012, resigned from the high-profile executive post in October 2015 amid a raging controversy over governance issues between the company’s co-founders and previous Board of Directors. — IANS