Cognizant names ex-Infosys President Ravi Kumar S CEO; updates 2022 guidance

COGNIZANT TECHNOLOGY SOLUTIONS CORP

Ravi Kumar S appointed CEO and Board member effective Jan. 12, 2023, replacing Brian Humphries.
Q4 2022 revenue expected ~$4.8B (1.3% YoY growth, 4.1% constant currency); FY revenue ~$19.4B (5.0% YoY).
Full-year 2022 Adj. Operating Margin now ~15.3% (down from 15.6% prior); Adj. Diluted EPS ~$4.38-$4.40 vs $4.43-$4.46 prior.
Impairment of ~$0.08 EPS from capitalized costs on a Health Sciences contract due to lower volumes.
Stephen J. Rohleder elected Chair of the Board; Michael Patsalos-Fox remains as independent director.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Ravi Kumar S

Member of the Board

CTSH · COGNIZANT TECHNOLOGY SOLUTIONS CORP

Effective: 2023-01-12
Filed: January 12, 2023, 6:59 PM ET

and as a member of the Board

Appointed

Ravi Kumar S

Chief Executive Officer

CTSH · COGNIZANT TECHNOLOGY SOLUTIONS CORP

Effective: 2023-01-12
Filed: January 12, 2023, 6:59 PM ET

the Board of Directors (the “Board”) has appointed Ravi Kumar Singisetti (also referred to a Ravi Kumar S or Ravi Kumar) as the Company’s Chief Executive Officer and as a member of the Board, in each case effective January 12, 2023

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COGNIZANT TECHNOLOGY SOLUTIONS CORP updated its fourth quarter and full year 2022 guidance (reaffirmed).

Period: fourth quarter and full year 2022
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

On January 12, 2023, Cognizant Technology Solutions Corporation (the “Company”) issued a press release to report the appointment of a new Chief Executive Officer and Director of the Board, as described below. In this press release, the Company disclosed updated 2022 guidance for fourth quarter and full year revenue and full year Adjusted Operating Margin and Adjusted Diluted EPS.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ravi Kumar S was appointed as Member of the Board at COGNIZANT TECHNOLOGY SOLUTIONS CORP.

Action: appointed
Role: Member of the Board

Exact text from the filing

and as a member of the Board

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ravi Kumar S was appointed as Chief Executive Officer at COGNIZANT TECHNOLOGY SOLUTIONS CORP.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

the Board of Directors (the “Board”) has appointed Ravi Kumar Singisetti (also referred to a Ravi Kumar S or Ravi Kumar) as the Company’s Chief Executive Officer and as a member of the Board, in each case effective January 12, 2023

View on SEC.gov

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COGNIZANT TECHNOLOGY SOLUTIONS CORP filing history →

Source: SEC EDGAR

accession 0001058290-23-000008

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