Jayesh Sanghrajka To Replace Nilanjan Roy As Infosys CFO
India”s second largest IT provider Infosys on Monday announced that its finance chief Nilanjan Roy has decided to step down from the position and Jayesh Sanghrjka will be replacing him. After serving the company for more than 4 years, Roy resigned to pursue his “personal aspirations” outside of the company, Infosys said in a statement. He was working with Bharati Airtel before joining Infosys in March 2019.
This is the third major resignation the company has faced in six months. Presidents Ravi Kumar S. and Mohit Joshi quit the company in June 2023. Roy”s resignation comes amid the Indian IT industry reeling under severe revenue losses due to the demand crunch in pivotal markets such as the USA and the UK.
Infosys had been compelled to reduce its revenue forecast to 1%-2.5% which is the slowest growth rate in a decade. The report dragged the Infosys shares in the Nifty to 1477.40 which is 0.75% below compared to the opening price. In U.S market, infosys shares closed at 17.41 being dragged by 2.68% to its opening price.
Sanghrajka, who is replacing Roy, has had an 18-year stint at Infosys. Since 2015, he has been working as the deputy CFO of the company.
“Given Infosys” leadership and how they have second-rung talent ready, it may not have a big disturbance in terms of operations or the margin agenda of the company,” said Ruchi Burde Mukhija, research analyst at Elara Capital, according to Reuters.
