Infosys CFO Nilanjan Roy resigns, Jayesh Sanghrajka to take charge

Infosys is undergoing a significant change in its top leadership as Chief Financial Officer (CFO) Nilanjan Roy has resigned. Roy, who assumed the CFO role in 2018, will officially step down on March 31, 2024, and Jayesh Sanghrajka, who was his deputy, will take over from April 1.

This move follows a trend of top-level departures at Infosys and within the broader landscape of tier-I IT services firms, including Wipro, HCLTech, and TCS, experiencing a wave of senior-level exits.

In a statement addressing Roy's departure, Infosys highlighted that he chose to resign to pursue personal endeavours outside the company. Notably, Roy's exit follows the resignations of former presidents Ravi Kumar S and Mohit Joshi. Exactly five months after the company’s president Ravi Kumar quit to lead Cognizant, the only other president, Mohit Joshi, also quit in March to succeed Tech Mahindra’s long-time MD & CEO, CP Gurnani. Both Kumar and Joshi had been with Infosys for about 20 years.

Jayesh Sanghrajka, the incoming CFO, brings a wealth of experience to the role, having spent over 18 years at Infosys across two stints. Presently serving as the Executive Vice-President and Deputy Chief Financial Officer, Sanghrajka, a chartered accountant with over 25 years of professional experience, has held various leadership positions within the finance domain.

Infosys CEO & MD, Salil Parekh, expressed confidence in Sanghrajka's capabilities, stating, “I am delighted to announce that Jayesh will take over as Chief Financial Officer. His depth of experience and knowledge will serve us well to take the function to greater heights.” Parekh also conveyed appreciation for Nilanjan Roy's contributions during his five-year tenure.

The changing leadership landscape at Infosys occurs against a backdrop of macroeconomic uncertainties and a cautious demand environment. In response, the company has adjusted its revenue growth guidance for the fiscal year, anticipating growth in the range of 1-2.5%, down from the previously forecasted 4-7%.

Consequently, Infosys has taken measures to adapt to the evolving market conditions, including the decision to forego campus hiring this year amid the slowdown in demand cycles.

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