Infosys Makes News Yet Again! Here’s All You Need To Know!
Deputy CFO Jayesh Sanghrajka has been retained by Infosys, and has been given additional responsibilities. Would his return be fruitful but?
The IT space has been brimming with news, as Bengaluru-based IT major Infosys has retained its deputy CFO Jayesh Sanghrajka. This development comes at a time when there were ongoing speculations of Sanghrajka’s exit from the company.
Jayesh Sanghrajka had resigned from the company over an alleged impropriety in financial statements by the company’s CEO Salil Parekh, with CFO Nilanjan Roy. Sanghrajka’s resignation had given birth to a lot of speculations in the market, leading to some brokerage houses even questioning the timing of his exit.
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Sanghrajka’s Terms Post Joining Back
As a brownie point, the Deputy CFO has been given some key portfolios in the company, one of them includes him reporting directly to the CEO, Salil Parekh. An important portfolio that Sanghrajka would be looking after is the company’s crucial mergers and acquisitions (M&A) portfolio. People aware of the matter said that he has also been given a handsome hike in his pay package.
There were even reports that Sanghrajka was initiating talks to join Mphasis, an IT services company. This was after Mphasis’ CFO V Suryanarayanan was due to resign in January 2020.
All You Need To Know About Jayesh Sanghrajka
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Sanghrajka comes with a 20 year experience in chartered accountancy. He had spent 13 years in Infosys, over two stints. His first term was a general manager (finance), and he later rejoined the company in 2012 as a corporate financial controller, that made his second stint. He also served as the Executive Vice President and Deputy CFO at Infosys.
His LinkedIn profile has around 8000 followers and some of his recommendations read like this:
The Infosys Affair
Over the days, Infosys CEO Salil Parekh has been accused of instigating employees to inflate profits, misrepresent the lucrativeness of deals, and even of abusing travel privileges. However, investors wiped more than $7 billion off the company’s market value in a single day. In fact, Infosys’s stocks were trading at INR. 727.50 a piece.
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