Seasoned public company executive brings
strong financial and industry-specific expertise
TEANECK,
N.J., Sept. 28, 2023 /PRNewswire/ -- Cognizant
(Nasdaq: CTSH), one of the world's leading professional services
companies, today announced the appointment of Jatin Dalal as Chief Financial Officer, with the
appointment anticipated to be effective in December 2023. Dalal will report to Ravi Kumar S,
Cognizant's Chief Executive Officer, and oversee, among other
responsibilities, Cognizant's worldwide financial planning and
analysis, accounting and controllership, tax, treasury and internal
audit, corporate development, investor relations and enterprise
risk management functions.
Dalal will succeed Jan Siegmund,
who, as previously disclosed, intends to retire in early 2024. Upon
Dalal's assumption of the role of CFO, Siegmund will remain with
the Company as a non-executive officer and special advisor to
support an orderly transition.
Dalal brings extensive executive-level financial expertise from
complex, multinational organizations. He joins Cognizant from
Wipro, a publicly traded multinational technology services and
consulting company, where he had served as CFO since April 2015 and assumed additional
responsibilities as President beginning in December 2019. Previously, he was CFO of Wipro's
Global IT Business from 2011 to 2015 in Bangalore, and prior to that, he served as
Wipro's UK Head of Finance for the Europe region and as the Global Finance Head
for the company's Energy & Utilities, Health Care, and
Manufacturing business units.
"Jatin is a highly experienced technology services CFO with a
proven track record of financial and operational success in a
complex and quickly evolving industry," said Ravi Kumar S, Chief
Executive Officer. "We are pleased to welcome Jatin to Cognizant
and confident he will help us achieve our goals as we continue to
focus on driving revenue growth."
About Jatin Dalal
Jatin Dalal joins Cognizant from
Wipro, a multinational technology services and consulting company,
where, since April 2015, he served as
Chief Financial Officer and assumed additional responsibilities as
President in 2019. As the CFO of Wipro, he was responsible for
Corporate Finance, Business Finance, Business Planning, Treasury,
Taxation, Secretarial, Controllership, Assurance and Procurement.
Dalal also led Wipro Ventures, Wipro's $300 million strategic investment arm focused on
investing in early- to mid-stage startups.
Dalal joined Wipro in 2002 and served in several roles of
increasing responsibility in Finance, including leading the
initiative to set up Wipro's internal Shared Services division
(2002-2004), a leadership role in Corporate Treasury with
responsibilities for Investor Relations (IR) and economic research
(2005-2008), Head of Financial Planning & Analysis (FP&A)
for the IT Business (2008-2009), Head of Finance for the
Europe region and the Global
Finance Head for three Business Units (Energy & Utilities,
Health Care and Manufacturing; 2009-2011) and CFO of Wipro's
Global IT Business (2011-2015).
Dalal holds a Bachelor of Engineering degree from National Institute of Technology (NIT), Surat,
India as well as a Post Graduate
Diploma in Business Administration (PGDBA) with a specialization in
Finance and International Business from NMIMS, Mumbai, India. He is a Chartered Accountant
(India), Cost Accountant (ICWA
India), Chartered Management Accountant (CIMA-UK) and Chartered
Financial Analyst (US). Dalal is also an alumnus of the
Advanced Management Program of The Wharton School of the
University of Pennsylvania.
Dalal served as a member of the New York Stock Exchange's Listed
Company Advisory Board from June 2015
to November 2022. He is also the
co-chair of the CFO Committee of the Confederation of Indian
Industry (CII) for fiscal year 2023-2024.
About Cognizant
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help
our clients modernize technology, reimagine processes and transform
experiences so they can stay ahead in our fast-changing world.
Together, we're improving everyday life. See how at
www.cognizant.com or @cognizant.
Forward-Looking Statements
This press release includes statements which may constitute
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
the accuracy of which are necessarily subject to risks,
uncertainties, and assumptions as to future events that may not
prove to be accurate. These statements include, but are not limited
to, the expected date of Dalal's appointment, the continued service
of Siegmund and the expected date of Siegmund's retirement, and the
ability to achieve our goals, including revenue growth. These
statements are neither promises nor guarantees, but are subject to
a variety of risks and uncertainties, many of which are beyond our
control, which could cause actual results to differ materially from
those contemplated in these forward-looking statements. Existing
and prospective investors are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date hereof. Factors that could cause actual results to differ
materially from those expressed or implied include the process for
obtaining permission for Dalal to work in the U.S., the personal
decisions of Dalal and Siegmund and internal and external factors
impacting our revenue growth discussed in our most recent Annual
Report on Form 10-K and other filings with the Securities and
Exchange Commission. The Company undertakes no obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events, or otherwise, except as may be
required under applicable securities law.
Investor Relations Contact:
Tyler Scott
VP, Investor Relations
+1 551-220-8246
Tyler.Scott@cognizant.com
Media Contact:
Jeff DeMarrais
VP, Corporate Communications
+1 475-223-2298
Jeff.DeMarrais@cognizant.com
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SOURCE Cognizant Technology Solutions