Cognizant Appoints Jatin Dalal as Chief Financial Officer

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Cognizant appoints Jatin Dalal as CFO, effective December 2023. Dalal brings extensive financial expertise from Wipro. CEO confident Dalal will help achieve revenue growth.

Seasoned public company executive brings strong financial and industry-specific expertise

TEANECK, N.J., Sept. 28, 2023 /PRNewswire/ -- Cognizant (Nasdaq: CTSH), one of the world's leading professional services companies, today announced the appointment of Jatin Dalal as Chief Financial Officer, with the appointment anticipated to be effective in December 2023. Dalal will report to Ravi Kumar S, Cognizant's Chief Executive Officer, and oversee, among other responsibilities, Cognizant's worldwide financial planning and analysis, accounting and controllership, tax, treasury and internal audit, corporate development, investor relations and enterprise risk management functions.

Dalal will succeed Jan Siegmund, who, as previously disclosed, intends to retire in early 2024. Upon Dalal's assumption of the role of CFO, Siegmund will remain with the Company as a non-executive officer and special advisor to support an orderly transition.

Dalal brings extensive executive-level financial expertise from complex, multinational organizations. He joins Cognizant from Wipro, a publicly traded multinational technology services and consulting company, where he had served as CFO since April 2015 and assumed additional responsibilities as President beginning in December 2019. Previously, he was CFO of Wipro's Global IT Business from 2011 to 2015 in Bangalore, and prior to that, he served as Wipro's UK Head of Finance for the Europe region and as the Global Finance Head for the company's Energy & Utilities, Health Care, and Manufacturing business units.

"Jatin is a highly experienced technology services CFO with a proven track record of financial and operational success in a complex and quickly evolving industry," said Ravi Kumar S, Chief Executive Officer. "We are pleased to welcome Jatin to Cognizant and confident he will help us achieve our goals as we continue to focus on driving revenue growth."

About Jatin Dalal

Jatin Dalal joins Cognizant from Wipro, a multinational technology services and consulting company, where, since April 2015, he served as Chief Financial Officer and assumed additional responsibilities as President in 2019. As the CFO of Wipro, he was responsible for Corporate Finance, Business Finance, Business Planning, Treasury, Taxation, Secretarial, Controllership, Assurance and Procurement. Dalal also led Wipro Ventures, Wipro's $300 million strategic investment arm focused on investing in early- to mid-stage startups.

Dalal joined Wipro in 2002 and served in several roles of increasing responsibility in Finance, including leading the initiative to set up Wipro's internal Shared Services division (2002-2004), a leadership role in Corporate Treasury with responsibilities for Investor Relations (IR) and economic research (2005-2008), Head of Financial Planning & Analysis (FP&A) for the IT Business (2008-2009), Head of Finance for the Europe region and the Global Finance Head for three Business Units (Energy & Utilities, Health Care and Manufacturing; 2009-2011) and CFO of Wipro's Global IT Business (2011-2015).

Dalal holds a Bachelor of Engineering degree from National Institute of Technology (NIT), Surat, India as well as a Post Graduate Diploma in Business Administration (PGDBA) with a specialization in Finance and International Business from NMIMS, Mumbai, India. He is a Chartered Accountant (India), Cost Accountant (ICWA India), Chartered Management Accountant (CIMA-UK) and Chartered Financial Analyst (US). Dalal is also an alumnus of the Advanced Management Program of The Wharton School of the University of Pennsylvania.

Dalal served as a member of the New York Stock Exchange's Listed Company Advisory Board from June 2015 to November 2022. He is also the co-chair of the CFO Committee of the Confederation of Indian Industry (CII) for fiscal year 2023-2024.

About Cognizant

Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.

Forward-Looking Statements

This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, the expected date of Dalal's appointment, the continued service of Siegmund and the expected date of Siegmund's retirement, and the ability to achieve our goals, including revenue growth.  These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include the process for obtaining permission for Dalal to work in the U.S., the personal decisions of Dalal and Siegmund and internal and external factors impacting our revenue growth discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

Investor Relations Contact:
Tyler Scott
VP, Investor Relations
+1 551-220-8246
Tyler.Scott@cognizant.com

Media Contact:
Jeff DeMarrais
VP, Corporate Communications
+1 475-223-2298
Jeff.DeMarrais@cognizant.com

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SOURCE Cognizant Technology Solutions