Infosys sees year’s fifth top-level exit
GLOBAL CONSULTING HEAD KEN TOOMBS QUITS
Top-level exits continue at Infosys, the country’s second-largest company in information technology services. The latest one being Ken Toombs, global head of consulting at the firm. Highlyplaced sources said he was serving the mandatory notice period. His resignation would be the fifth among high-profile ones since Salil Parekh took charge in January as chief executive officer. DEBASIS MOHAPATRA writes
Top-level exits continue at Infosys, the country’s second largest company in information technology services.
The latest one being Ken Toombs ( pictured), global head of consulting at the Bengalurubased entity. Highly placed sources said he is presently serving out the mandatory notice period.
Toombs resignation would be the fifth among high profile ones since Salil Parekh took charge in January as chief executive officer (CEO). Why Toombs decided to go could not be ascertained. In an e-mail reply, Infosys said, “We don’t comment on speculation.”
Toombs, a former CEO of Capgemini Consulting, had joined Infosys in June 2016. His initial mandate was to restructure and run the company’s North America consulting business, before taking on a global mandate for the business as a managing partner. One of the largest service lines for Infosys, its consulting business has around 3,000 staffers across the world. “During Ken’s tenure, he has reset the firm’s vision and operating model, launched new service offerings and has hired a number of the industry’s brightest consultants and thinkers,” goes Toombs profile on the Infosys website.
In January, Rajesh Krishnamurthy, the company’s president and head of Europe, quit after a 26-years tint. Sangita Singh, an executive vice-president and head of the $750-million health care and life sciences vertical, left in June. Around the same time, Nitesh Banga, resigned while heading the manufacturing vertical.
Then, in August came the surprise resignation of M D Ranganath, chief financial officer. He had been in the company for 18 years and is currently serving the notice period, which will end next month.
Infosys has gone through a lot of management churn in the past two years. Its then CEO, Vishal Sikka, left in August 2017. After that, the board of directors has also been reshaped, with then non-executive chairman R Seshasayee stepping down. Co-founder Nandan Nilekani had returned as the company’s chairman, with Salil Parekh as managing director and CEO.
Questioned on October 16, at the press conference regarding the quarterly financial results, Parekh had said, “We have gone through two quarters of the (current financial) year and I think we are in a fairly stable position. We have a very deep bench of talent across the segments.”
The latest exit comes when the company has started improving its performance. In the quarter ended September, it had met Street expectations with momentum in the large deals space, apart from having seeing broad-based growth in the banking, financial services and insurance division, as also the retail one.