New Delhi, Sept 11: IT services company Coforge witnessed further upheaval in its boardroom on Friday after non-executive independent director and Nomination and Remuneration Committee (NRC) Chairperson D K Singh stepped down, citing differences and tensions between independent and executive directors.
Coforge, however, disputed the claims made in Singh’s resignation, describing the allegations as unfounded and saying they appeared to have been made after the events that led to his departure.
According to the company, an internal audit review had raised concerns over governance practices involving Singh and former Chairman O P Bhatt during a board evaluation process. The review reportedly found that certain evaluation reports were not shared with other board members, including a report carrying the lowest rating in the Chairman category.
Bhatt had stepped down as Coforge chairman earlier this week following the developments. He had also failed to obtain the required 75 per cent support at the company’s Annual General Meeting on August 24 for his reappointment as an independent director. His proposal received 65.47 per cent votes in favour.
Following Singh’s resignation, Coforge said its board has restructured several committees and appointed independent director Beth Boucher as the new NRC chairperson.
The company has also appointed Vivek Sharma as interim chairperson until January 31, 2027. Sharma will oversee the process of identifying additional independent directors and lead the search for a new board chair, with the company targeting completion of the process by the end of January next year.
Coforge said Singh’s resignation should be viewed in the context of the findings and developments surrounding the internal audit.
The company further noted that Singh had earlier agreed to serve a second five-year term beginning February 2026, after completing his initial two-year tenure.
Similarly, Bhatt had agreed to a second five-year term in July 2026 after completing his first three-year tenure on the board.
The latest resignation adds to the recent leadership changes at Coforge as the company works to address the governance issues raised during the board evaluation process.
