Cognizant's Chief People Officer Rebecca Schmitt to step down, search for successor underway
The global technology consulting and services company, Cognizant, is experiencing ongoing turbulence in its top-level leadership. In the latest development, Rebecca (Becky) Schmitt, who held the position of Chief People Officer, has tendered her resignation in pursuit of a new professional opportunity. Schmitt's departure from the organisation is scheduled for May 5th, and it adds to the series of leadership changes that Cognizant has been witnessing in recent times.
Schmitt joined the organisation in February 2020. Her resignation from Cognizant was conveyed to employees by CEO Ravi Kumar S in a note, reviewed by Times of India. “Becky Schmitt, Chief People Officer, will be leaving Cognizant effective May 5 for another professional opportunity. We thank Becky for her dedication and lasting contributions to improving our employee experience and wish her well,” a Cognizant spokesperson told the publication.
According to Kumar, a global search is currently underway to find a replacement for Schmitt, encompassing both internal and external candidates. “We have launched a comprehensive search for our new Chief People Officer, and are excited to continue building on the success we have had in advancing our people strategy,” Cognizant said.
Kathy Diaz, who currently holds the position of Senior Vice President of Rewards and HR Mergers and Acquisitions, will be stepping in as interim Chief People Officer, as stated by the company representative.
Kumar, who assumed the role of CEO at Cognizant in January, emphasised the company's commitment to maintaining the positive momentum achieved in recent quarters in order to enhance retention. He expressed that the entire leadership team shares this focus and is dedicated to positioning Cognizant as the preferred employer in the industry.
Kumar also acknowledged Schmitt's contributions to implementing employee-centric initiatives that have positively impacted Cognizant's culture.
After Brian Humphries' departure as CEO and the subsequent appointment of Ravi Kumar as the new CEO to stabilise the company, Schmitt's resignation is the latest change in leadership at the IT company. Kumar's appointment was viewed by many analysts as a move to instil consensus and confidence within the organisation.
During Humphries' tenure, Cognizant, which has a market value of $17 billion, experienced slower revenue growth compared to its peers, witnessed several high-level departures and recorded one of the lowest organic growth rates in the IT industry.
In the October-December 2022 quarter, Cognizant disclosed $4.8 billion in revenue, which reflected a year-on-year growth of 4.1% in constant currency. However, this growth rate was notably lower compared to its Indian counterparts. For the entire financial year, which follows the calendar year, Cognizant's revenue totalled $19.4 billion, showing a growth of 7.5% in constant currency.