Coforge Chairman O P Bhatt Steps Down Amid Governance Concerns

Coforge's Chairman, O P Bhatt, has stepped down following a fallout with the board, reportedly due to low ratings in a board evaluation. Shareholders denied a special resolution to extend his tenure. The company has appointed Egon Zehnder to find a new chairman and two independent directors. This development follows a period of rapid growth for Coforge, with ambitious revenue targets, and comes as private equity firm Advent International, a significant shareholder, voted against Bhatt's extension. The situation highlights potential tensions between conservative and aggressive growth strategies within the company.