Coforge Appoints Egon Zehnder to Find Two Independent Directors Amid Governance Issues

Coforge, a leading IT services company, has appointed global executive search firm Egon Zehnder to identify two additional independent directors as the company moves to strengthen its board following the resignations of chairman OP Bhatt and Nomination and Remuneration Committee (NRC) chair DK Singh. The board shared the governance issues that led to the exits had no impact on the company's operations, financial reporting or business outlook.

Independent Director Beth Boucher Has

Independent director Beth Boucher has been appointed NRC chair. Interim chair Vivek Sharma shared the search would be global. Focusing on candidates with governance experience, professional expertise and strategic perspectives to strengthen the board and support Coforge's long-term growth.

Sharma will also oversee the process to elect a permanent chair but shared he would not be a candidate for the role.

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The board detailed the findings of an internal audit that preceded the resignations. KPMG, Coforge's internal auditor, reviewed the accuracy of board reporting as part of its FY27 audit plan. The audit found that board evaluation reports were available only to the then NRC chair and chairman.

And were not shared with other board members.

Manner Which Evaluation Findings Presented

The manner in which the evaluation findings were presented without sharing copies of report was a governance issue Sharma shared. They added that the company would work to improve its governance practices.

The search for two new independent directors is expected to begin soon. Coforge's board members expressed confidence in the process and assured investors that there was no dissent among them.

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shared Sharma, who will oversee the entire process.

The resignations of OP Bhatt and DK Singh followed a series of governance issues within the company. The board had previously acknowledged these issues but assured investors that they had no impact on the company's operations or financial performance.

shared Sharma, adding that the company would continue to work towards improving its governance practices.