Cognizant Names Bram Schot to Board of Directors

Rhea-AI Summary

Cognizant (Nasdaq: CTSH) announced the appointment of Abraham ('Bram') Schot as an independent director, effective April 3, 2023. With over 30 years of experience in the automotive industry, including leadership roles at Volkswagen AG and Audi Group, Schot brings significant operational and technological expertise. His appointment increases the Board to 14 members, with 13 being independent. Cognizant aims to enhance its governance structure as half of its directors have been appointed in the last four years, focusing on innovation and customer-centric strategies to boost growth.

Positive

• Bram Schot's extensive experience in the automotive sector adds valuable skills to the Board.
• Half of the Board members have been appointed in the last four years, indicating a fresh perspective.
• Schot's background in innovation and sustainability aligns with Cognizant's focus on growth.

Negative

• None.

Seasoned public company executive brings strong operational, managerial and technological expertise

TEANECK, N.J., March 31, 2023 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced the appointment of Abraham ("Bram") Schot to its Board of Directors (the "Board") as an independent director, effective April 3, 2023. Cognizant's Board will expand to 14 members, 13 of whom will be independent.

"We are pleased to welcome a leader of Bram's caliber to the Cognizant Board," said Stephen Rohleder, Chair of the Board. "With over three decades of experience in the automotive industry, including in senior executive roles at industry-leading companies, Bram brings significant international operational, managerial and technological expertise to our Board. Beyond his automotive industry experience, Bram's deep understanding of innovation, risk management, sustainability and the importance of a customer-centric approach will be a tremendous asset to the Board and management as we continue to focus on reaccelerating growth."

The Board continues to strive towards optimizing its balance of director skills and tenures as part of its ongoing refreshment program. With the addition of Mr. Schot, half of the Board will consist of new independent directors appointed in the last four years.

About Bram Schot

Mr. Schot, 61, brings to Cognizant more than three decades of experience in the automotive industry, including management positions at DaimlerChrysler, Mercedes-Benz, Volkswagen Group and Audi. From 2011 to 2020, he worked for the Volkswagen AG group of companies, including most recently as the Chairman and CEO of the Audi Group, Member of the Group Board of Volkswagen AG, Chairman Premium Car Group, Chief Commercial Officer Volkswagen Group and Vice Chairman Porsche Holding, Salzburg, Austria from 2018 to April 2020. Prior positions include his roles as a Member of the Board of the Audi Group from 2016 to 2018 and Member of the Board of Volkswagen CV from 2011 to 2016. Prior to that, Mr. Schot held a number of director and senior leadership roles within Mercedes-Benz and Daimler AG in Italy and the Netherlands.

Mr. Schot currently sits on the Board of Directors of Shell plc and Signify NV. He has also been an Associate Professor of Practice in Corporate Strategy at the SDA Bocconi School of Management in Milan, Italy, since 2021 and has held senior advisory roles with various companies, including Carlyle Group since 2021. He received a Masters in Business Administration from the University of Bradford, England.

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.

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

FAQ

Who is Bram Schot and what is his experience relevant to Cognizant (CTSH)?

Bram Schot has over 30 years of experience in the automotive industry, including roles at Volkswagen AG and Audi Group, where he held senior executive positions.

What is the significance of Bram Schot's appointment to Cognizant's Board of Directors?

His appointment enhances the Board's operational and technological expertise, aiming to drive innovation and growth.

How many members are on Cognizant's Board of Directors after Schot's appointment?

Cognizant's Board will expand to 14 members, with 13 being independent directors.

What is Cognizant's strategy regarding its Board of Directors?

Cognizant is focused on refreshing its Board with newer independent directors to optimize skills and governance.