Cognizant is probing unlawful payments in its India operation
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The probe led the company to appoint its IT Services Chief Executive Rajeev Mehta on September 28 as its President, a day after incumbent
"The investigation is being conducted under the oversight of the audit committee and is focused on a small number of company-owned facilities,"
The company has notified the
"The internal investigation is in its early stages, and the company is not able to predict what, if any, action may be taken by the Justice Department, SEC or any governmental authority in connection with the investigation or the effect of the matter on the company's results, cash flows or financial position," it said in the filing.
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"For the past decade, Mehta has been responsible for leading our market-facing teams in delivering industry-leading growth. He has a deep understanding of new technologies and new delivery models and their potential to transform businesses," said Cognizant Chief Executive Officer Francisco D'Souza in a statement.
As Chief Executive of IT Services, Mehta was responsible for market-facing activities across the company. His prior roles include Group Chief Executive, Industries & Markets, where he led its industry vertical and geographic market operations on a global basis.
"I am honoured to assume this new role at an exciting time in Cognizant's history. Over the past year, we have designed and introduced a new operating model to support our strategic vision and growth," said Mehta in the statement.
Co-founded by Indian-origin Kumar
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In its previous avatar, the company was an IT arm of Dun & Bradstreet
With about 100 development and delivery centres worldwide and 244,300 employees, Cognizant is ranked among the top performing and fastest growing firms globally.
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