Bengaluru: Cognizant president for global industries & consulting Prasad Chintamaneni is said to have resigned, making him the fourth top executive to resign in the past one month.
Peter Bendor-Samuel, CEO of IT consulting firm Everest Group, said Chintamaneni’s resignation does not come as a surprise. “With a new chairman of the board and CEO, Cognizant is changing out its senior management team as it puts distance from the ill-advised Elliott (activist fund Elliott Managemement) influenced commitments of the last two years. Furthermore, , the senior Cognizant team has had a great run and accumulate significant wealth in stock which can best be sold while they are no longer insiders,” he said.
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