India's second largest IT company Infosys' search for a CFO has finally come to an end. The company announced the appointment of Bharti Airtel's current global CFO Nilanjan Roy as the next Chief Financial Office, effective 1st of March 2019. A veteran at Bharti Airtel, Nilanjan currently handles finance function across India and Africa and prior to that spent close to 15 years with Unilever in their global operations across India, Europe, and the US.
Speaking on the appointment, CEO and MD, Salil Parekh said, "We are delighted to announce that Nilanjan will join Infosys as our CFO. He comes to us with extensive and rich global experience." Jayesh Sanghrajka, the current interim CFO, will revert to his earlier role as the deputy CFO, effective after Nilanjan assumes his office.
The nominations and remunerations committee tasked with finding a new CFO was headed by Kiran Mazumdar-Shaw with D N Prahlad and D Sundaram being the other members.
Earlier in August this year, M D Ranganath abruptly stepped down as the CFO and Infosys had appointed Jayesh Sanghrajka as the interim Chief Financial Officer effective 17th November, with the tenure MD Ranganath coming to an end on the 16th. Ranganath or Ranga as popularly known was considered close to the promoters and his exit marked the departure of two CFOs from the company in under 4 years.