In consideration with the changes made in the executive officers, Infosys on Monday revealed about Rajiv Bansal’s resignation as the chief financial officer. Ranganath D. Mavinakere, who is the EVP and head of strategic operations and CEO’s office, will be the new CFO of the company with effective from today.
Rajiv Bansal will continue his services as an advisory with the company until December 31. Bansal’s association as the chief financial officer of the company will be ending after tenure of three years.
Talking about his association with the company since 1999, 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 Sikka, will scale new heights in the times ahead.”
Over 15 years of alliance with the company, Mavinakere was managing the corporate marketing, risk management, mergers and acquisitions and strategic planning. He was also the chief risk management officer who handled the risk management program of the company.
As quoted by TOI, Vishal Sikka, CEO and managing director of Infosys, said, “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.”
The announcement was made during the revelation of Infosys’s quarter 2 results. The net profit of the company has surged to 12.1 percent (Rs 3,398 crore). While the rupee revenue increased by 8.9 percent, the dollar revenue escalated by 6 percent.
Regarding the quarter results, Sikka said, “While results in any one quarter are transitory snapshots of a long journey, we do see our focused execution along our strategy starting to produce encouraging results for our clients, shareholders and Infoscions.”