Rajiv Bansal, the current executive vice president (EVP), and chief financial officer (CFO), of Infosys, announced his resignation from the said positions, in a surprise move, on Monday. Bansal had taken over as EVP and CFO of the company in October 2012, replacing then CFO V Balakrishnan. Bansal will be replaced by executive vice president and head of strategic operations, MD Ranganathan, said a statement issued by Infosys.
The statement further added that Rajiv Bansal will continue as an advisor to the CEO, and the Board, until December 31, 2015, to ensure a smooth transition.
On Bansal’s decision, current Infosys CEO, Vishal Sikka expressed his opinions on the exiting CFO by saying that, “He’s a brilliant CFO and we will miss him even as we respect his decision and wish him continued success in his future endeavors.”
He also complemented Bansal on his successful tenure by adding, “As Infosys’ CFO, Rajiv has led our financial strategy and has been instrumental in bringing us to this point in our transformational journey.”
Sikka also went onto comment on the appointment of the new CFO, MD Ranganathan by adding that, “Over the course of the last sixteen months, I have come to know Ranga as a passionate leader and a balanced leader with tremendous ability, knowledge and integrity. We welcome him as our CFO.”
Of his time at the Bangalore based tech giant Infosys, Bansal said, “It has been an absolute privilege and pleasure to work at Infosys. It has been a most exciting and rewarding experience. 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.”
The new CFO, Ranganathan, completed his post-graduate diploma (PGDM) from the prestigious Indian Institute of Management (Ahemdabad), and also holds a Masters’s degree from another prestigious institute, Indian Institute of Technology (Chennai), said the statement released by Infosys.