Cognizant announces leadership change, names Ravi Kumar S as CEO
Nasdaq-listed Cognizant on Thursday named Ravi Kumar S as its new chief executive officer (CEO) and board member. Kumar succeeds Brian Humphries in both roles.
Humphries will remain with the company as a special advisor until March 15, 2023.
Kumar joins Cognizant after a 20-year career at Infosys, where he held various leadership roles, most recently serving as president from January 2016 through October 2022. He led the Infosys Global Services Organization across all global industry segments, driving digital transformation services, consulting services, technology services, engineering services, data & analytics, cloud and infrastructure, and enterprise package applications service lines.
The company had previously announced that Kumar would join the company as president, Cognizant Americas. Surya Gummadi was named as president, Cognizant Americas. Gummadi, a 24-year veteran of Cognizant, held the role on the interim since July 2022.
After Humphries took over leadership and implemented restructuring, Cognizant has been struggling to gain market share. The company was plagued by high attrition, both at senior and mid-management level, which impacted its growth further.
Over the last few quarters however, Cognizant has managed to curb its supply side issues and return to growth.
Cognizant also announced that Stephen J Rohleder, a member of its Board since March 2022, has been elected Chair. “As a proven leader with deep experience developing global talent and building a culture of success, we believe Ravi is the right person to take Cognizant into its next phase of growth,” said Rohleder.
“I am honored to join Cognizant, a company I have long admired for its dedicated client focus and its track record of innovation,” said Kumar. “I look forward to working with Steve, the rest of the Board, and the leadership team to capture the many opportunities ahead. I have watched Cognizant fundamentally transform its business, expanding its digital portfolio and capabilities, strengthening client relationships and partnerships, and meaningfully enhancing operational discipline.”
Humphries said, “I am proud of our team’s achievements during my tenure as CEO. Our brand is more visible, our portfolio is stronger, our client relationships are more consultative and we are better aligned to high growth digital segments within our market. The company is in a great position for success. It was an honor to lead our talented associates and I wish Ravi and the leadership team all the best for the future.”
The company upped its guidance for 2022. Cognizant now expects fourth quarter and full-year revenue of approximately $4.8 billion and $19.4 billion, respectively, compared to prior expectations of $4.72-$4.77 billion for the fourth quarter and $19.3 billion for the full year.
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