Coforge appoints former Bharti Enterprises VC Akhil Gupta as chairperson
The appointment follows weeks of intense boardroom turmoil, triggered by the abrupt resignation of former chairman and veteran banker O P Bhatt on Sep 9
Coforge has appointed Akhil Gupta as its chairperson and non-executive independent director for five years. This follows the resignation of former chairman O P Bhatt on September 9. Bhatt's departure came after an internal audit found he had withheld a board evaluation report.
The audit reportedly assigned Bhatt's performance the lowest rating. His resignation and the subsequent audit caused Coforge's market value to drop by over Rs 4,400 crore, with shares falling over 5%.
Vivek Sharma was appointed as interim chairperson after Bhatt's resignation.
Akhil Gupta's appointment was the result of a global search process led by Egon Zehnder, according to Vivek Sharma, who said the process involved a list of 60 candidates being whittled down to Gupta as the unanimous choice of the NRC and the Board.
Brief written by urgent.news from Business Standard IN, The Economic Times — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- Coforge shares rise 2% after firm appoints Akhil Kumar Gupta as chairman post OP Bhatt’s abrupt resignation economictimes.indiatimes.com
- Coforge appoints Akhil Gupta as independent chairperson for five years business-standard.com
