Cognizant to add 4,000 in ’04

BANGALORE: US based software services Cognizant Technology Solutions Corporation is planning for three additional fully owned `Techno-Complexes’ with over 6,00,000 sq ft of space for 6,500 employees in Pune, Chennai, and Bangalore. The workforce in India has surpassed 9,000 and expects to add 4,000 more during the next year.

Earmarking roughly $40 million over the next two years on its new construction program, work is expected to begin in early 2004. "Once fully occupied, these additional facilities are expected to generate annual operating expense savings of approximately $10 million, compared to expanded use of leased facilities," informed a statement released by the company.

"Cognizant has grown faster than the competition this year and demand, including the pipeline, continues to be at an historically high level," said Lakshmi Narayanan, President and CEO. "Clients are ramping up their large scale offshore programs, including application development and maintenance projects. An increasing number of large organizations are choosing Cognizant because of our industry leading fourth generation onsite/offshore model, which is focused on delivering not just technology but measurable business results. Our anticipated high growth rate in revenue and headcount provides an opportunity for us to build and own additional facilities."

In a reshuffle and promotions of the senior management of Cognizant, its President Lakshmi Narayanan has been given the additional responsibility of the CEO. Making way is the outgoing founder, Chairman and CEO of the company, Kumar Mahadeva, who is retiring. Narayanan has also been elected to Cognizant's Board of Directors.

Other movement includes, Francisco D'Souza, previously Senior Vice President of North American and European Operations and Business Development, has been promoted to Chief Operating Officer, a title previously held by Narayanan. Gordon Coburn, who continues as CFO, has been promoted to Executive Vice President and has assumed the additional responsibilities of Administration. John Klein, a Board Member since 1998, has been appointed non-executive Chairman.