Cognizant Announces Management Succession Plan to Become Effective January 1, 2007
Geschrieben am 02-08-2006
Teaneck, New Jersey (ots/PRNewswire) -
- President and CEO Lakshmi Narayanan to be Elected Vice Chairman
- COO Francisco D'Souza to Become President and CEO
- Announces Other Senior Management Promotions
Cognizant Technology Solutions Corporation (Nasdaq: CTSH), a
leading provider of IT services, today announced a management
succession plan intended to support the Company through the next
phase of its growth. Under the plan, which will become effective
January 1, 2007, current President and CEO Lakshmi Narayanan will
become Vice Chairman of the Board of Directors and current Chief
Operating Officer Francisco D'Souza will succeed him as President and
CEO and will become a member of the Board of Directors. In addition,
Gordon Coburn, currently Chief Financial Officer, will be promoted to
Chief Financial and Operating Officer.
Cognizant also announced two additional appointments, effective
immediately. Chandra Sekaran, an executive officer of the company
since 2004, has been promoted to President and Managing Director,
Global Delivery and will oversee Cognizant's development operations
around the world. Rajeev Mehta, who has been promoted to Chief
Operating Officer, Global Client Services and added to the executive
team, will assume responsibility for the Company's sales, business
development and client relationship management organizations. Mr.
Sekaran and Mr. Mehta will report to Mr. D'Souza.
"I am proud to have served as President and CEO and to have been
part of Cognizant's leadership team since the Company's founding in
1994," said Lakshmi Narayanan, President and CEO, Cognizant. "During
this time, we have achieved major milestones in our history, firmly
placing Cognizant in the top tier of companies in the offshore IT
services industry. We have built a strong leadership team that has
consistently driven Cognizant's financial and operating success, and
I believe we have the platform in place to drive the Company's future
growth and enable me to step down from my day-to-day management
responsibilities and focus my time on pursuing industry thought
leadership roles on behalf of Cognizant."
Mr. Narayanan continued, "I also look forward to working alongside
Francisco in further strengthening the Cognizant brand and mentoring
our next generation of leaders, as he assumes his new
responsibilities next year as President and CEO. During more than a
decade at Cognizant and in his current responsibilities as COO,
Francisco has played an integral role in building our client
relationship management, sales and marketing, and global delivery
organizations into world-class operations. Francisco is widely
recognized in the industry for his strategic vision and operational
excellence, and I am confident that Cognizant is well positioned to
continue our industry-leading growth under his leadership."
"I am honored to lead Cognizant as we continue to execute on the
successful strategy that we expect to drive our next phase of growth
as a billion-dollar company," said Francisco D'Souza, Chief Operating
Officer. "Over the last several years, under Lakshmi's leadership, we
have expanded our client service and delivery organizations,
enhancing our ability to deliver solutions focused on strengthening
our customers' businesses and increasing value for our shareholders.
I am confident that we have the right global management team in place
to lead Cognizant forward in its continued growth."
"Our commitment to investing in the right infrastructure has
enabled Cognizant to meet strong demand from our clients," said
Gordon Coburn, Chief Financial Officer. "I am pleased to assume
additional global responsibilities for enhancing Cognizant's cross
business unit processes and capabilities in areas such as talent,
infrastructure and systems to support our continued growth. As we
announced this morning, we believe that 2006 will continue to be
another year of industry-leading growth for Cognizant, based on the
strong demand we are seeing from our new and existing clients."
Mr. D'Souza, who will continue to be based in the U.S., has 17
years experience in the IT industry in operational, management and
advisory roles and was part of the team that founded Cognizant in
1994. In his current role as COO, he has responsibility for
Cognizant's global delivery and client services organizations. Prior
to his current position, he led the Company's North American and
European operations. Mr. D'Souza obtained his Bachelor's degree in
Business Administration from the University of East Asia and an MBA
from Carnegie Mellon University.
Mr. Coburn has over 16 years of experience in the IT industry.
Prior to joining Cognizant in 1996, he spent six years at The Dun &
Bradstreet Corporation, where he held key financial management
positions at the operating and staff levels. Mr. Coburn obtained his
BA from Wesleyan University and his MBA from The Amos Tuck School at
Dartmouth College. He is a member of the Board of Directors of
Nasdaq-listed ITC Group and the IT Services Division of the ITAA.
Mr. Sekaran, who will continue to be based in India, has more than
20 years of operational management experience in the IT industry.
Prior to his election as Executive Vice President and Managing
Director in January 2004, he served as Senior Vice President
responsible for offshore delivery, as well as key alliances, capacity
growth, process initiatives and business development. Mr. Sekaran
joined Cognizant in 1994 and previously served in various delivery
roles at Tata Consultancy Services. Mr. Sekaran obtained his
Mechanical Engineering degree and Master of Business Administration
degree from the Indian Institute of Management.
Mr. Mehta is based in the U.S. and has more than 16 years of
operational management experience in the IT industry. Mr. Mehta, who
joined Cognizant in 1997, most recently served as Senior Vice
President and General Manager of Cognizant's Financial Services
Business Unit, guiding the group, the largest within Cognizant, to
recognized industry leadership. In this capacity, Mr. Mehta has been
responsible for sales, business development, client relationship
management and full P&L management. Prior to Cognizant, Mr. Mehta was
involved in implementing GE Information System's offshore outsourcing
program and also held consulting positions at Deloitte & Touche and
Andersen Consulting. Mr. Mehta obtained his BS from the University of
Maryland and an MBA from Carnegie Mellon University.
Cognizant (Nasdaq: CTSH) is a leading provider of IT services.
Focused on delivering strategic information technology solutions that
address the complex business needs of its clients, Cognizant uses its
own on-site/offshore outsourcing model to provide applications
management, development, integration, and reengineering;
infrastructure management; business process outsourcing; and numerous
related services, such as enterprise consulting, technology
architecture, program management, and change management.
Cognizant's more than 31,000 employees are committed to
partnerships that sustain long-term, proven value for customers by
delivering high-quality, cost-effective solutions through its
development centers in India and on-site client teams. Cognizant
maintains P-CMM and SEI-CMM Level 5 assessments from an independent
third-party assessor, was recently named one of Forbes' Best Small
Companies in America for the fourth consecutive year, and ranked
among the top information technology companies in BusinessWeek's Hot
Growth Companies. Cognizant is a member of the NASDAQ-100 Index. Find
additional information about Cognizant at http://www.cognizant.com.
This press release includes statements which may constitute
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
the accuracy of which are necessarily subject to risks,
uncertainties, and assumptions as to future events that may not prove
to be accurate. Factors that could cause actual results to differ
materially from those expressed or implied include general economic
conditions and the factors discussed in our most recent Form 10-K and
other filings with the Securities and Exchange Commission. Cognizant
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events, or
Web site: http://www.cognizant.com
ots Originaltext: Cognizant Technology Solutions Corporation
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