IT services major Cognizant Technology Solutions Corp's social, mobile, analytics and cloud (SMAC) business head Mahesh Venkateswaran has resigned from the company to pursue other opportunities, according to a news report by Mint citing the company's spokesperson.
The resignation of Vekateswaran came just a week after the company reported lacklustre quarterly results. At present, Cognizant's SMAC business generates about $500 million in annual revenue.
An 18-year veteran at the company Venkateswaran was reporting to chief executive Francisco D'Souza. He was currently looking at incubating new ideas at the SMAC division. He has incubated several multi-billion dollar businesses for Cognizant.
"Yes Mahesh Venkateswaran has decided to move on to pursue other opportunities. During his nearly 18 years at Cognizant, Mahesh has successfully incubated and grown a number of our practices. Most recently, he was the executive vice-president of our SMAC business. We wish him good luck in his future endeavours," Cognizant spokesperson said as quoted by Mint in the report.
(Edited by Joby Puthuparampil Johnson)