Infosys CFO Rajiv Bansal resigns; Ranganath M D steps in as replacement

Infosys CFO Rajiv Bansal has resigned and has been replaced by Ranganath M D, who will take over from today. Bansal’s resignation will be effective December 31, 2015.

Written by FE Bureau

Bangalore

Updated: October 12, 2015 13:09 IST

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Infosys CFO Rajiv Bansal has resigned. He has been replaced by Ranganath M D, who will take over from today. Bansal’s resignation will be effective December 31, 2015.

Infosys has announced that its Chief Financial Officer Rajiv Bansal has stepped down from the position and Ranganath M D will take over this role. Bansal’s resignation will be effective from December 31, 2015. Ranganath will take over from October 12. These decisions were taken by the Board at its meeting here on Monday.

Bansal took over as the CFO from V Balakrishnan in October 2012. Ranganath is key executive member of Infosys and works closely with the CEO office of the company.

Exiting CFO Rajiv Bansal said, “It is like a dream come true. I lived my dream at Infosys. There are very exciting opportunities in the world. I want to do something more exciting, more challenging, something where I can add more value. Looking forward to the next stage of my life.”

The Board has also approved the 2015 Incentive Compensation Plan, amending the existing 2011 RSU Plan. The Board has further approved the issuance of new shares, so as not to cumulatively exceed 2% of the shares outstanding, in order to support grants made over time under the 2015 Incentive Compensation Plan.

Also read full reports:

Infosys results 2015 Factsheet

Infosys results 2015 INRS

Infosys results 2015 USD

This article was first uploaded on October twelve, twenty fifteen, at fifty-four minutes past nine in the morning.