Technology
Coforge appoints Akhil Gupta chair for 5-year term
The Hindu BusinessLine··29 Sept
Coforge Ltd appointed Akhil Kumar Gupta as chairperson for five years from Tuesday. The move follows chairman O P Bhatt's September 9 exit after an audit over a withheld board evaluation. Interim chair Vivek Sharma said 60 candidates were reviewed with Egon Zehnder. Shares fell over 5 percent, erasing more than Rs 4,400 crore in market value.
Prism
What It Means For You
- Gupta's appointment needs shareholder approval, Coforge said in a stock-exchange filing.
- The board now has eight members including four independent directors.
- CEO Sudhir Singh said Gupta would help as the firm pivots toward enterprise AI work.
What's Happening
- Nomination committee chair D K Singh also quit days after Bhatt's exit.
- Gupta chairs 360 ONE WAM Ltd and Bharti Life Insurance Ltd and sits on several other boards.
- Coforge ended last year with $1.87 billion in revenue, up 29.2 percent year on year.
Boardroom Fallout at Coforge
- Bhatt resigned after 27 months, citing disagreements over his good faith actions.
- The audit found Bhatt withheld a report rating his own performance lowest.
- Gupta spent more than 16 years at Bharti Enterprises before this appointment.
all-news
