Infosys creates deputy CFO position

Infosys has appointed Jayesh Sanghrajka senior vice president (SVP and corporate financial controller, as deputy CFO. This is the first time that the $9-billion IT firm has created that position, and is seemingly designed to free up the CFO’s time for strategic business responsibilities. Infosys recently elevated Ranganath Mavinakere as the CFO, after his predecessor Rajiv Bansal resigned to pursue interests outside the company.

Infosys declined to comment on the deputy CFO position pointments or resignations other than those ofexecutive officers. But when requested, Infosys co-founder N R Narayana Murthy said in an email to TOI: “My congratulations to Ranga and Jayesh on their appointments.They are both competent professionals with a good value system. I have known Ranga for over 16 years now and he worked as the Dean of my office during my second innings. He achieved everything he was asked to, on time, within budget, and with high quality in a very pleasant and harmonious way .”

Former Infy CFO V Balakrishnan said the deputy CFO’s role creates a continuum in the finance function both internally and externally . “The CFO can focus on strategy , liaise with business units and investors,” he said. Sanghrajka’s appointment also comes alongside the exit of Mala Chandrasekhar, SVP and head of business finance and accounting group, who quit the company soon after Bansal’s exit.