Former Chief Executive Officer of Cognizant<\/a> Brian Humphries<\/a> was involuntarily terminated without cause, the company said as part of its stock exchange filings as proxy statement to shareholders.

The statement said that its relative total shareholder return (TSR) performance had not met expectations leading to the decision to change leadership.

On January 12, 2023, the board named former
Infosys<\/a> president Ravi Kumar S as CEO and member of the board, effective immediately.

“ The Board has monitored this evolution (Cognizant’s) closely and seen sustained strategic and operational progress. In preparing for 2023, however, the Board recognized the need for Cognizant to progress faster, increase its commercial momentum and accelerate revenue growth. We believed that doing so required a CEO transition,” said Stephen J. Rohleder, chair of the board of directors, Cognizant in a letter to shareholders.

Rohleder took over as chairman on the same day when Kumar was appointed CEO.

The company said that
Humphries<\/a>’ separation “was considered an involuntary termination without cause”.

When an executive is involuntarily terminated without cause, it means the termination is not related to any misconduct or malfeasance, and they are entitled to severance payment. Humphries remained an employee of the organisation till March 15 as special advisor, said the filing.

Humphries’ termination followed multiple years of underperformance by the company compared to peers. ET had reported in August 2022, that the company’s board was likely to assess Cognizant's loss of senior executives, ‘inability’ to hire leaders from technology companies, the decision to stay away from large deals, and ‘relative underperformance’ compared to tier I offshore and global peers. Further the board was likely to make leadership changes for the same.

The company recently adopted a policy that caps cash severance benefits to executive officers at 2.99 times annual salary and bonus. This was not in effect at the time that Humphries had taken over, and he received severance pay as per agreement as he was terminated without cause.

The filing further reported that Gregory Hyttenrauch, the Former EVP and President for Americas, was terminated on June 28, 2022, due to “behavior inconsistent with company policy”. Ursula Morgenstern, former president of global growth markets, was also “involuntarily terminated” without cause on June 30, 2022.
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认识到前任首席执行官布莱恩·汉弗莱斯是不自觉地终止:申请

不自觉地无故终止执行时,它意味着终止与任何不当行为或不法行为,他们有权支付遣散费。汉弗莱斯保持员工组织到3月15日的特别顾问,文件说。

  • 更新于2023年4月26日07:28点坚持
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前首席执行官认识到布莱恩·汉弗莱斯是不自觉地无故终止,该公司表示,其证券交易所申请委托书给股东。

声明中说,其相对的股东总回报(TSR)性能不符合预期导致改变领导的决定。

2023年1月12日,董事会任命前印孚瑟斯总统拉维·库马尔年代首席执行官和董事会成员立即生效。

“董事会密切监视这个进化(认识),看到持续的战略和业务进展。在2023年准备,然而,董事会承认需要认识到进步更快,增加其商业动力,加快收入增长。我们认为,这样做需要一个CEO过渡,”Stephen j . Rohleder说董事会主席认识到在致股东的信。

广告
Rohleder接任董事长在同一天当Kumar被任命为首席执行官。

该公司表示,汉弗莱斯“分离”被认为是一种无意识的无故终止”。

不自觉地无故终止执行时,它意味着终止与任何不当行为或不法行为,他们有权支付遣散费。汉弗莱斯保持员工组织到3月15日的特别顾问,文件说。

汉弗莱斯的终止后多个年表现不佳的公司与同行相比。等报告2022年8月,公司董事会可能会评估认识到高管的丧失,“无能”雇用来自科技公司的领导人,决定远离大型交易,和第一层相比的相对表现不佳的离岸和全球同行。进一步的董事会可能会使领导同样的变化。

该公司最近采纳了一项政策,限制现金遣散费的好处高管年薪和奖金的2.99倍。实际上这不是当时汉弗莱斯已经占领了,他收到了遣散费按协议被终止。

申请进一步报道,Gregory Hyttenrauch前执行副总裁和总裁美洲,终止于6月28日,2022年,由于“行为不符合公司政策”。乌苏拉Morgenstern,前总统全球增长的市场,也是“非自愿终止”无故6月30日,2022年。

  • 发布于2023年4月26日凌晨07:27坚持
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Former Chief Executive Officer of Cognizant<\/a> Brian Humphries<\/a> was involuntarily terminated without cause, the company said as part of its stock exchange filings as proxy statement to shareholders.

The statement said that its relative total shareholder return (TSR) performance had not met expectations leading to the decision to change leadership.

On January 12, 2023, the board named former
Infosys<\/a> president Ravi Kumar S as CEO and member of the board, effective immediately.

“ The Board has monitored this evolution (Cognizant’s) closely and seen sustained strategic and operational progress. In preparing for 2023, however, the Board recognized the need for Cognizant to progress faster, increase its commercial momentum and accelerate revenue growth. We believed that doing so required a CEO transition,” said Stephen J. Rohleder, chair of the board of directors, Cognizant in a letter to shareholders.

Rohleder took over as chairman on the same day when Kumar was appointed CEO.

The company said that
Humphries<\/a>’ separation “was considered an involuntary termination without cause”.

When an executive is involuntarily terminated without cause, it means the termination is not related to any misconduct or malfeasance, and they are entitled to severance payment. Humphries remained an employee of the organisation till March 15 as special advisor, said the filing.

Humphries’ termination followed multiple years of underperformance by the company compared to peers. ET had reported in August 2022, that the company’s board was likely to assess Cognizant's loss of senior executives, ‘inability’ to hire leaders from technology companies, the decision to stay away from large deals, and ‘relative underperformance’ compared to tier I offshore and global peers. Further the board was likely to make leadership changes for the same.

The company recently adopted a policy that caps cash severance benefits to executive officers at 2.99 times annual salary and bonus. This was not in effect at the time that Humphries had taken over, and he received severance pay as per agreement as he was terminated without cause.

The filing further reported that Gregory Hyttenrauch, the Former EVP and President for Americas, was terminated on June 28, 2022, due to “behavior inconsistent with company policy”. Ursula Morgenstern, former president of global growth markets, was also “involuntarily terminated” without cause on June 30, 2022.
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