The New Jersey-based IT firm, which has majority of its employees based in India, named Rajeev Mehta as chief executive officer, IT services, while Ramakrishnan Chandrasekaran (Chandra) has been appointed executive vice-chairman of Cognizant India, effective December 4.
In his prior role, Chandrasekaran, served as the companys group chief executive of technology and operations, while Mehta was the group chief executive for industries and markets. Both Mehta and Chandrasekaran will report to chief executive Francisco DSouza, Cognizant said in a regulatory filing to US Securities and Exchange Commission late on Friday night.
Over the past few quarters, Chandra has been slowly transitioning his P&L responsibility and this announcement is a continuation of the same, Cognizant said in an email response to FE, adding that Mehta will have responsibility for market facing activities across the company, as well as for delivery across their IT services business.
The firm also announced promotions and new roles for some of its key executives.
Sumithra Gomatam, Debashis Chatterjee and Allen Shaheen will take on new responsibilities, reporting to Mehta. Gomatam has been promoted to executive vice-president (EVP) and will take on the newly created role of president, industry solutions, the firm informed.
Debashis Chatterjee promoted to EVP will take on the role of president, technology solutions.
Allen Shaheen, who is also promoted as EVP, will continue to be responsible for practices in Europe. Other changes include Krish Venkat as president, healthcare & life sciences, Prasad Chintamaneni as president, banking and financial services and DK Sinha as EVP, who will take on the newly created role as president, client services.
Cognizant also announced a series of promotions to EVP level for senior leaders, including Mahesh Venkateswaran (Social, Mobile, Analytics and Cloud), Kalyan Mohan (Emerging Business Accelerators), Srinivasan Veeraraghavachary (Products and Resources covering Manufacturing, Retail, Consumer Goods and Logistics), Santosh Thomas (Continental Europe, Middle-East and Asia-Pacific operations), Mark Livingston (Cognizant Business Consulting), Gajen Kandiah (Business Process Services) and Steven Schwartz (chief legal and corporate affairs officer).
Structural changes in business and technology, newer operating and delivery models, and globalisation of businesses call for new thinking and new structures. We believe we are organising for the future in order to stay relevant to our clients. We are happy that we are doing it at the right time, Cognizant said in a statement.
For the July-September stretch, Cognizant recorded a sequential dollar revenue growth of 6.7%, ahead of Tata Consultancy Services (TCS), Indias largest IT services exporter, which posted a revenue growth of 5.4%. Bangalore-headquartered Infosys had a sequential growth of 3.8% during the same period, followed by HCL Technologies at 3.5% and Wipro recording a growth of 2.7%. During the September quarter, Cognizants revenue stood at $2.31 billion from $1.89 billion, up 21.9% a year ago.
Over the past one year, Cognizant was the only non-Indian software services firm that was busy disrupting the Indian IT pecking order. It first outperformed Wipro and then last year, it edged past Infosys in the quarterly revenue growth rate. During the March quarter, Cognizant even moved ahead of TCS in sequential dollar revenue growth.