The deputy CFO of IT major, Infosys, Jayesh Sanghrajka is likely to succeed MD Ranganath as CFO of the company. Ranganath's last working day is November 16.
Two people in the company, requesting anonymity, told DH that Sanghrajka is likely to take over very soon.
"Right now I can't confirm anything, but it seems like Jayesh is going to get the shot at the post. He has worked under Ranga, and knows the company very well," a source said.
This is Sanghrajka's second innings at Infosys, having rejoined the company in December 2012 as Vice President and Corporate Financial Controller. Prior to that he was with IT major from 2000 to 2007 as General Manager, Finance.
Sanghrajka, when takes charge, will become the third CFO of the company, within three years. However, the frequent change of CFOs in the past few years has raised stability concerns among the company's investors. "Ranga was doing a good job at the helm of the company. His departure is surely a setback. Add to that frequent changes in CFOs," head of a domestic institutional investor, that has a substantial stake in Bengaluru-based IT company said.
Ranganath had announced his 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, who took charge in January this year.
Earlier, in an interview with DH, when asked about next CFO, Ranganath had said, "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."