IT major Cognizant, on Thursday split its global growth market (GGM) region’s responsibilities and appointed two internal senior executives to lead the same.
The move follows the company’s GGM leader, Rob Walker stepping down last month. Ravi Kumar S, CEO, Cognizant, said in an internal memo, that Manoj Mehta and Jane Livesey will share the GGM responsibilities and will also join Cognizant’s Executive Committee. The two executives will also directly report to Kumar.
GGM refers to the company’s emerging markets outside of America. While Mehta has been named head of Europe, Middle East, Africa (EMEA), Livesey has been named head of Asia Pacific and Japan (APJ), representing the commercial and delivery interests in Australia, New Zealand, ASEAN, Greater China, India, and Japan.
The IT major recently beat street estimates, by posting June quarter revenue at $4.89 billion, up by 1.5% quarter-on-quarter (QoQ). Of the $4.9 billion revenue the company reported in the June quarter of FY23, about $1.3 billion came from Europe and the rest of the world. The balance of $3.6 billion came from North America.
“More than half of our company’s market opportunity lies outside of the Americas, and our Global Growth Markets’ (GGM) focus on improving our strategic position with clients and capturing more of this opportunity are key to accelerating Cognizant’s revenue growth – one of our company’s top priorities,” Kumar said in the memo.
“GGM represents a vast geographic range and as nearly all GGM markets will grow in 2023, we have the obligation to appropriately scale them for future opportunities – further globalising Cognizant’s footprint and channelizing that energy into a growth mindset,” he added.
The New Jersey-based company is seeing organisational restructuring after new CEO Kumar took over charge this year. While Jan Siegmund, CFO, Cognizant is retiring early 2024, the company appointed six women Senior Vice Presidents (SVPs) last month.