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After Cognizant, Tech Mahindra goes after former Infosys top talent

Livemint · 9d

- A dozen former executives of Infosys have joined Tech Mahindra since March 2023, with three joining directly from Infosys and nine with prior experience at other companies. - Similarly, Nasdaq-listed Cognizant has experienced a similar exodus of executives from Infosys, with at least 10 joining after Ravi Kumar S. became CEO of Cognizant in January 2023. - Infosys reported its slowest growth since Salil Parekh became CEO in January 2018, with a full-year revenue growth of 1.9% to $18.6 billion for the year ended March 2024. - Tech Mahindra's revenue declined by 5% to end with $6.3 billion in FY24, while Cognizant saw a revenue slip of 0.39% to $19.4 billion in 2023. - The exodus can be attributed to the credentials and relationships built by the former Infosys executives, as well as the attractiveness of the leadership acumen of Ravi Kumar and Mohit Joshi. - The applicability of non-compete clauses in the IT services industry is still a work in progress, and organizations are taking steps to implement and enforce them.