IT major Infosys has appointed Jayesh Sanghrajka as its interim Chief Financial Officer with effect from November 17, as its outgoing CFO MD Ranganath's term ends on Thursday.
"Board of Directors at its meeting today appointed Jayesh Sanghrajka as the interim Chief Financial Officer and Key Managerial Personnel of the Company with effect from November 17, 2018. The Board is in the process of selecting the next CFO. The current CFO, M.D. Ranganath will step down on November 16, 2018," the company said in a statement.
The sources suggest that Sanghrajka would most likely take over as the full-time CFO, once the board zeroes in on the candidate.
DH had earlier reported about Sanghrajka being promoted as the CFO of the IT major.
Ranganath had announced his abrupt resignation in mid-August, marking the third top-level exit — all of them at the executive vice-president level — at Infosys under the leadership of CEO Salil Parekh.
Earlier, in an interview with DH, when asked about next CFO, Ranganath had hinted towards Sanghrajka's elevation, stating, "The finance team that we have was not built in three or five years span. The solid foundations were laid by TV Mohandas Pai, the former CFO, and then we built on it. We have a very strong finance team."
Sanghrajka has spent 13 years at the Bengaluru based IT major, over two stints and has performed various leadership roles in the finance function. He is currently Executive Vice President and Deputy Chief Financial Officer at Infosys. Sanghrajka has over 20 years of experience and is a Chartered Accountant. Other than Infosys, he has also worked at Mu Sigma, Rediff and Tishman Speyer.
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