Infosys share price declines over 1% as company CFO, Nilanjan Roy, resigns in a surprise move
₹1,475 against the previous close of ₹1,488.60 and fell 1.4 per cent to the level of ₹1,468.50 within the first 10 minutes of the trade. "The board of directors took note of the resignation of Nilanjan Roy as Chief Financial Officer and key managerial personnel of the company with effect from March 31, 2024.
Based on the recommendation of the nomination and remuneration committee and audit committee considered and approved the appointment of Jayesh Sanghrajka as Chief Financial Officer and key managerial personnel of the company effective April 1, 2024," the company said in its BSE filing on December 11. “I am delighted to announce that Jayesh will take over as Chief Financial Officer.
As Deputy CFO, he has been leading multiple portfolios in the finance function for several years now and his depth of experience and knowledge will serve us well to take the function to greater heights. I would also like to express my deep appreciation for Nilanjan for ably leading the function over the last five years and wish him the very best for his future endeavours." said Salil Parekh, CEO & MD, Infosys.
Also Read: Infosys' ADRs fall over 3% as CFO Nilanjan Roy quits Infosys share price has fallen nearly 5 per cent in the last one year, significantly underperforming the benchmark Sensex which has gained 13 per cent and the BSE IT index which has jumped 17 per cent in the same period. For Q2FY24, Infosys reported a 3.2 per cent year-on-year rise in its consolidated net profit (attributable to owners of the company) at ₹6,212 crore.
Infosys trimmed its revenue growth guidance to 1-2.5 per cent from 1-3.5 per cent, as per the company's filing. Also Read: Stocks to Watch: Infosys, Sun Pharma, DLF, Dixon Tech, RVNL Read all market-related
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