Veeraraghavachary to step down as COO, marking yet another exit at Cognizant
Information technology (IT) major Cognizant has reportedly announced that its chief operating officer (COO) Srinivasan Veeraraghavachary will step down from his post in August.
Several senior executives have exited the company since Brian Humphries took over as CEO on April 1, 2019. The past few weeks witnessed senior vice president and delivery transformation head Vinayambika Kidiyur; senior vice president and delivery head of enterprise applications Rajesh Balaji; and senior vice president of the banking, financial services and insurance (BFSI) vertical Jaideep Poondir exiting the company.
Read: Cognizant shareholders ask top executives to realign salary structure with revenue growth
Humphries announced the development in an email to employees, according to multiple media reports.
“He (Veeraraghavachary) expressed his interest in transitioning out of Cognizant to pursue his next challenge, yet committed to stay in his role and provide his support for the next year,” Humphries reportedly wrote.
The veteran played a key role in driving strong growth for the company, and leveraged relationships by combining them with sound business practices, Humhries added.
Veeraraghavachary has worked for the Tea Neck, New Jersey-based IT company for over two decades since 1998. He currently manages the talent supply chain and runs the company’s IT systems and infrastructure teams. He has earlier led teams of sales and operations, and corporate security, and held a host of other positions.
An Indian Institute of Management, Calcutta graduate, Veeraraghavachary got his bachelor’s degree in mechanical engineering from the National Institute of Technology, Trichy.
Cognizant reported in February its slowest revenue growth in 12 quarters, led by a slump in BFSI and healthcare. The company witnessed a 3.8% growth in quarterly revenue, which was slower than its peers in the Indian IT services industry during the quarter -- Infosys revenues grew 8%, while TCS saw a 6.7% increase.