<p>"Debashis Chatterjee (DC) has decided to move on. His contribution to the growth and development of Cognizant and our BFS practice has been solid," Cognizant spokesperson said.<br /><br />He was serving the company for over 14 years and was heading the banking and financial services (BFS) for over seven years.<br /><br />Jaideep Poondir, Vice-President, BFS Practice will take over charge from Chatterjee.<br />"Cognizant has robust succession planning mechanisms and a Two-in-a-Box structure running across the company. We have already identified another Cognizant veteran to succeed DC," company's spokesperson added.<br /><br />Earlier during the year while announcing fourth quarter results, Cognizant had said it would invest about Rs 2,274 crore in the India over the next four years.<br /><br />Cognizant, which competes with Indian IT firms such as TCS, Infosys and Wipro, has spent over USD 500 million in building its infrastructure in India.<br /><br />The Nasdaq-listed company had reported 43 per cent jump in net profit to USD 206.16 million for the fourth quarter ended December 2010 over the same period last year.<br />For the fourth quarter, revenues grew by 45.2 per cent to USD 1.31 billion over the same period last year.</p>
<p>"Debashis Chatterjee (DC) has decided to move on. His contribution to the growth and development of Cognizant and our BFS practice has been solid," Cognizant spokesperson said.<br /><br />He was serving the company for over 14 years and was heading the banking and financial services (BFS) for over seven years.<br /><br />Jaideep Poondir, Vice-President, BFS Practice will take over charge from Chatterjee.<br />"Cognizant has robust succession planning mechanisms and a Two-in-a-Box structure running across the company. We have already identified another Cognizant veteran to succeed DC," company's spokesperson added.<br /><br />Earlier during the year while announcing fourth quarter results, Cognizant had said it would invest about Rs 2,274 crore in the India over the next four years.<br /><br />Cognizant, which competes with Indian IT firms such as TCS, Infosys and Wipro, has spent over USD 500 million in building its infrastructure in India.<br /><br />The Nasdaq-listed company had reported 43 per cent jump in net profit to USD 206.16 million for the fourth quarter ended December 2010 over the same period last year.<br />For the fourth quarter, revenues grew by 45.2 per cent to USD 1.31 billion over the same period last year.</p>