Cognizant Solutions Welcomes Jatin Dalal as CFO, Second High Profile Hire in 12 Months
Cognizant Technology Solutions named former Wipro CFO Jatin Dalal as its CFO on Sept 28, a week after he resigned from the Indian information technology (IT) behemoth. Dalal is Cognizant's second high-profile hire in the last year, following the appointment of former Infosys President Ravi Kumar S as CEO in January. Dalal will succeed current CFO Jan Siegmund, who is set to retire in early 2024, according to a statement from the IT services firm. In recent months, the rate of executive churn in the Indian technology industry has increased.
Top Indian IT firm Tata Consultancy Services CEO Rajesh Gopinathan quit in March, while Tech Mahindra named Infosys veteran Mohit Joshi as its CEO and managing director, set to join in December.
Dalal spent over two decades at Wipro, where he joined as a manager at its treasury operations and most recently held the position of president and CFO. Wipro's shares fell about 3 per cent the day after his exit.
Dalal joined Wipro as CFO in 2015, and together with CEO Thierry Delaporte, steered the company through the digital services pandemic. In 2020 and 2021, the company's shares increased by 57% and 85%, respectively, compared to 55% and 60% growth in India's Nifty IT index during the same period.
"We are pleased to welcome Jatin to Cognizant and are confident he will help us achieve our goals as we continue to focus on driving revenue growth," said Cognizant CEO Ravi Kumar S in a statement.
In August, Cognizant predicted that third-quarter revenue would exceed expectations as more businesses turned to the IT services provider to digitise their operations.