Wipro: Ex-Wipro executive Jatin Dalal likely to be CFO of Cognizant

BENGALURU: Jatin Dalal, who resigned as Wipro CFO last week, is said to be joining Cognizant as CFO. The move is expected after the latter’s CFO, Jan Siegmund, retires in early 2024, sources told TOI. When asked about this, Cognizant said they “do not comment on rumour or speculation in the market.” Dalal did not respond to TOI’s queries on the matter.
Cognizant CEO Ravi Kumar is dealing with multiple challenges, and Dalal will likely be a good hand in helping to deal with those. The company has been underperforming its peers for several years now. Kumar is trying to bring focus back on growth rates, energise the company’s large deals team, and boost morale generally.
If Dalal makes the move, it will be to a much bigger company. Cognizant had revenue of $19.4 billion last year, compared to Wipro’s $11.3 billion. His responsibilities could be diverse. Siegmund as CFO oversees financial planning and analysis, accounting & controllership, tax, treasury, and internal audit functions. He also oversees corporate development, investor relations and enterprise risk management. In early 2023, he assumed responsibility for sales operations, pricing, and post-acquisition integration. His compensation in 2022 was $6.6 million.