Rajiv Bansal on Monday stepped down as executive vice-president and chief financial officer (CFO) of Infosys.
Bansal had taken over as Infosys CFO from V Balakrishnan in October 2012 and will be succeeded by MD Ranganath. Bansal will be in office till December 31 this year to provide a smooth transition to his successor.
Commenting on the development, Vishal Sikka, CEO and managing director, Infosys said, “He is a brilliant CFO and as Infosys’ CFO Rajiv has led our financial strategy and has been instrumental in bringing us to this point in our transformational journey. We will miss him even as we respect his decision and wish him continued success in his future endeavours.”
When asked what will be his next move, Bansal said: “I am going to go home and spend time with my wife and daughter. Last six years have been a long journey and very exciting and rewarding in Infosys. I am 43 and left with another 15-17 years. I can’t tell you now where I am going to go from here. I will look at new things as there are so many opportunities in the market. I will do something exciting.”
A 15-year veteran in Infosys, Ranganath has held several leadership position during his tenure. He is currently executive vice president and head of strategic operations, responsible for strategic planning, risk management, mergers & acquisitions and corporate marketing. In earlier roles at the company, he was the chief risk officer for over five years, implementing the Enterprise Risk Management Program and leading cost optimisation initiatives as senior vice-president in the chairman’s office.
Prior to joining Infosys, Ranganath held responsible roles in treasury, planning and credit functions at ICICI Limited. Ranga is a post-graduate diploma in management (PGDM) from the Indian Institute of Management, Ahmedabad and holds a master’s degree in technology from the Indian Institute of Technology, Madras and is an Associate Member of CPA, Australia.
Commenting on his appointment, Sikka said, “Over the course of the last 16 months, I have come to know Ranga as a passionate leader and a balanced leader with tremendous ability, knowledge and integrity. We welcome him as our CFO.”