Cognizant CEO Brian Humphries Steps Down; Todd McKinnon Appointed Interim CEO

TL;DR

Cognizant CEO Humphries out, McKinnon in as interim. Big changes ahead.

AI Summary

Cognizant Technology Solutions Corporation announced on July 2, 2024, changes in its executive team. Brian Humphries has stepped down as Chief Executive Officer, and transition plans are underway. Todd McKinnon has been appointed as the interim CEO, effective immediately, while the company searches for a permanent replacement.

Why It Matters

This leadership change at a major IT services firm like Cognizant could impact its strategic direction, client relationships, and stock performance.

Risk Assessment

Risk Level: medium — CEO departures often create uncertainty regarding future strategy and execution, potentially impacting investor confidence.

Key Players & Entities

• Cognizant Technology Solutions Corporation (company) — The reporting company
• Brian Humphries (person) — Departing Chief Executive Officer
• Todd McKinnon (person) — Appointed Interim Chief Executive Officer
• July 2, 2024 (date) — Effective date of the reported events

FAQ

From the Filing

0001058290-24-000227.txt : 20240709 0001058290-24-000227.hdr.sgml : 20240709 20240709062208 ACCESSION NUMBER: 0001058290-24-000227 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240702 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240709 DATE AS OF CHANGE: 20240709 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COGNIZANT TECHNOLOGY SOLUTIONS CORP CENTRAL INDEX KEY: 0001058290 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] ORGANIZATION NAME: 06 Technology IRS NUMBER: 133728359 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24429 FILM NUMBER: 241106279 BUSINESS ADDRESS: STREET 1: 300 FRANK W. BURR BLVD., STE. 36, 6 FL. CITY: TEANECK STATE: NJ ZIP: 07666 BUSINESS PHONE: 2018010233 MAIL ADDRESS: STREET 1: 300 FRANK W. BURR BLVD., STE. 36, 6 FL. CITY: TEANECK STATE: NJ ZIP: 07666 8-K 1 ctsh-20240702.htm 8-K ctsh-20240702 0001058290 False 0001058290 2024-07-02 2024-07-02 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): July 2, 2024 Cognizant Technology Solutions Corporation (Exact Name of Registrant as Specified in Charter) Delaware 0-24429 13-3728359 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 300 Frank W. Burr Blvd. Teaneck , New Jersey 07666 (Address of Principal Executive Offices including Zip Code) ( 201 ) 801-0233 (Registrant’s telephone number, including area code) N/A (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425). ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12). ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)). ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)). Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.01 par value per share CTSH The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).                                         Emerging growth company ☐      If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02.      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 2, 2024, the Compensation and Human Capital Committee of the Board of Directors of Cognizant Technology Solutions Corporation (the "Company”) approved the Company’s payment of $505,087 to Mr. Jatin Dalal, the Company’s Chief Financial Officer, in connection with Mr. Dalal’s