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Coforge chairman Om Prakash Bhatt resigns after audit
The Hindu BusinessLine··9 Sept
Coforge said chairman Om Prakash Bhatt resigned on September 8 after a board evaluation audit found concerns. The audit identified issues with how a report under Bhatt's guidance was presented to the board. Bhatt, former State Bank of India chairman, was appointed in 2024 for a term due April 2027. Vivek Sharma was named interim chair until January 31, 2027.
Prism
What It Means For You
- The board raised concerns with Bhatt and was evaluating his response when he tendered resignation.
- Vivek Sharma, a non-executive independent director, takes interim chair duties through January 2027.
- Coforge did not elaborate on the specific undisclosed performance information cited in the filing.
What's Happening
- The company said material information about Bhatt's own performance had not been fully disclosed to the board.
- Bhatt maintained in his resignation letter that he had acted in good faith.
- The regulatory filing included Bhatt's resignation letter.
Bhatt's board tenure
- Bhatt previously served as chairman of India's largest lender, State Bank of India.
- Coforge appointed him board chair in 2024 for a term ending April 2027.
- The audit examined the board evaluation process and resulting report under his guidance.
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