Infosys President Becomes New Cognizant CEO With Plans To ‘Unlock’ Potential
‘Cognizant is well-positioned for growth, and I’m excited to unlock the company’s significant potential for our employees, clients, investors, and other stakeholders,’ says Cognizant’s new CEO Ravi Kumar.
“Cognizant is well-positioned for growth, and I’m excited to unlock the company’s significant potential for our employees, clients, investors, and other stakeholders,” said Kumar in a statement.
Kumar spent 20 years at India-based global IT services and consulting firm Infosys. He served as president from 2016 until late 2022, leading the company’s large global services organization across all global segments.
It’s not immediately clear why Humphries was leaving the CEO position. CRN has reached out to Cognizant for comment.
In December, Cognizant unveiled its plan to acquire Utegration, a solution provider specializing in SAP services and products. Additionally, in November, Cognizant acquired digital transformation consulting specialist AustinCSI to expand its capabilities for helping customers with their digital strategies.
“I have watched Cognizant fundamentally transform its business, expanding its digital portfolio and capabilities, strengthening client relationships and partnerships, and meaningfully enhancing operational discipline,” said Kumar.
Former CEO Humphries To Stay Until March
Humphries was a top executive at HP, Dell Technologies and was the former CEO of Vodafone Business before joining Cognizant as CEO in 2019.
Humphries said he was proud of his team’s achievements over the years in elevating all aspects of the company.
“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,” he said in a statement. “The company is in a great position for success.”
Humphries will remain with Cognizant as a special advisor until March 15.
“I wish Ravi and the leadership team all the best for the future,” he said.
Cognizant Appoints New Leaders
Cognizant also announced today that Stephen J. Rohleder, a member of Cognizant’s board since March 2022, has been elected chair of the board.
Former Chairman Michael Patsalos-Fox will remain on the board as an independent director.
Additionally, Cognizant named Surya Gummadi as president of Cognizant Americas. Gummadi is 24-year veteran of Cognizant, previously serving as senior vice president of Cognizant’s health sciences business segment.
Cognizant Financial Guidance
Along with the unveiling of a new CEO, Cognizant also released fourth quarter 2022 financial earnings guidance.
The company is projecting fourth quarter revenue of $4.8 billion, representing a growth increase of 1 percent year over year.
Cognizant expects full-year 2022 revenue to reach $19.4 billion, up 5 percent annually compared to 2021.