Cognizant has notified its shareholders that Rajesh Nambiar is ceased to serve as the ‘Executive Officer’ of the Digital Business & Technology vertical of the company, effective from July 6, 2022. According to the reports, his compensation will be adjusted in accordance with the salaries of the non-executive officers of the company.
Nambiar, however, will continue to be a part of the company as ‘Executive Vice President’, ‘Chairman’, and ‘Managing Director’ of Cognizant India.
The change is a part of a large organizational restructuring to shift towards delivering clients’ business outcomes aligned by industry. The company also wants to simplify its internal operating structure around the practice area and delivery operations.
“The Cognizant is merging its Digital Business & Technology and Digital Business Operations practice areas with the respective delivery organization to create four new integrated practices: Software & Platform Engineering, Core Technologies & Insights, Enterprise Platform Services, and Intuitive Operations & Automation. This change will not impact the company’s reportable segments”, the company said in the filing.
“With these changes, the company expects to better serve clients, enabling best-in-class offerings and capabilities and creating even more opportunities for associates with exposure to additional career growth”, it added.
The changes won’t affect the company, but they significantly shrink Nambiar’s portfolio, considering Cognizant derived a majority of its revenues from the digital business and technology verticals.
Cognizant CEO Brain Humphries said in a statement, “Nambiar will return to his full-time role for which he was hired. Rajesh will continue to report directly to me as a member of our Executive committee and focus on enhancing Cognizant’s relationships with the government and key policy-making bodies”, he added.