- Cognizant Technology Solutions Corp (NASDAQ:CTSH) named Ravi Kumar S as CEO and a member of the Board, effective immediately.
- Kumar succeeds Brian Humphries in both roles. Humphries will remain with the company as a special advisor until March 15, 2023.
- Kumar joined Cognizant after a 20-year career at Infosys Limited (NYSE:INFY), where he held various leadership roles, most recently serving as President from January 2016 through October 2022.
- Cognizant has elected board member Stephen J. Rohleder as the Chair of the Board.
- Rohleder brings decades of experience from his 35-year tenure in senior roles with Accenture Plc (NYSE:ACN).
- Former Chair Michael Patsalos-Fox will remain on the Board as an independent director.
- Outlook: Cognizant expects fourth-quarter and full-year revenue of $4.8 billion (consensus of $4.75 billion) and $19.4 billion (consensus of $19.34 billion), respectively, up from prior expectations of $4.72 billion – $4.77 billion for Q4 and $19.3 billion for FY22.
- Cognizant expects FY22 adjusted EPS of $4.38-$4.40, down from prior guidance of $4.43-$4.46.
- Price Action: CTSH shares traded higher by 7.64% at $66.20 on the last check Thursday.
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