Infosys President Mohit Joshi has resigned, the company announced in an exchange filing on Saturday. According to Infosys' website, Joshi was responsible for the Financial Services and Healthcare/Life Sciences businesses at Infosys. Later Tech Mahindra in an exchange filing announced that Joshi will join the company as Managing Director and Chief Executive Officer.
"Infosys, a global leader in next-generation digital services and consulting, today announced the resignation of Mohit Joshi, President. Effective March 11, 2023, he will be on leave and his last date with the company would be June 09, 2023," Infosys said in its filing with the stock exchanges.
On the other hand, Tech Mahindra announced, the “Appointment of Mr. Mohit Joshi, (DIN: 08339247) as Managing Director and Chief Executive Officer of the Company and Key Managerial Personnel under the Companies Act, 2013, for a period of 5 (five) years with effect from December 20, 2023, to December 19, 2028 (both days inclusive),”
Current Tech Mahindra CEO CP Gurnani’s term ends on December 19. Gurnani said, “This is a running train. There will be a reasonable transition period between me and the new leader. Clearly, the assumption is that the leadership team is here to stay and I will be a part of the team which will make sure the transition happens."
The company said, "He (Mohit Joshi) will join Tech Mahindra well before that date to allow for sufficient transition time."
According to Mohit Joshi's LinkedIn profile, he has worked with Infosys for more than 22 years in various roles. For the last 7 years, he was working as president with Infosys. In addition, as Chairman of Edgeverve Systems Ltd, he also leads the company's software business which includes Finacle, our Global banking platform.
Mohit joined Infosys in 2000 and has since worked in different capacities for the firm. In his previous role, he was responsible for leading the Financial Services business in Europe. In 2007, Mohit was appointed as CEO of Infosys Mexico and was instrumental in setting up the first subsidiary in Latin America.
He is also a Non-Executive Director at Aviva Plc. He is a member of the Risk and Governance and Nomination committees.
Mohit has previously worked with ABN AMRO and ANZ Grindlays in their Corporate and Investment banks. He holds an MBA from the Faculty of Management Studies, Delhi University, and a Bachelor’s degree in history from St. Stephen’s College, Delhi.
Tech Mahindra NRC Chairperson TN Manoharan said in a statement, “Mohit’s appointment is the successful culmination of a rigorous selection process during which the NRC evaluated a number of internal and external candidates. Mohit’s experience with digital transformation, new technologies and large deals will complement Tech Mahindra’s strategies and continue to build on the strong growth momentum demonstrated by the company."
Also Read: Major US Tech Lender Silicon Valley Bank Closed, Here Is What Led To This Crisis
This is the company's second significant departure in recent years. Last year in October Ravi Kumar S left the company to become the Chief Executive Officer of Cognizant.
Kumar has worked with Infosys for around 20 years and has served in various roles. He was the Executive Vice-President, Global Head of the Insurance, healthcare, cards, and payments business unit. He was also Chairman of the Board of Infosys Public Services and oversaw the consulting services subsidiary. He oversaw engineering, consulting, traditional technology, data and analytics, cloud, and infrastructure services.
