India's Coforge says independent director resigns days after chairman's exit (updated)

Coforge

11/09/2026 16:46

Changes headline, rewrites throughout
BENGALURU, Sept 11 - India's Coforge COFO.NS said on Friday the chair of its nomination and remuneration committee, DK Singh, has resigned citing "differences and tension", days after Chairman Om Prakash Bhatt stepped down following an internal audit review.
The resignation marks the latest escalation in a governance dispute at the IT services firm, after an internal audit found that a board evaluation report giving Bhatt a low rating was shared only with the former chair and Singh. The board had sought explanations from both Bhatt and Singh.
Singh, who is also a non-executive independent director, said his resignation was "the appropriate decision" following "the unfortunate events of the past several weeks" and Bhatt's departure earlier this week, according to his September 10 letter.
He said Coforge's move to a more independent board had created friction, particularly between independent and executive directors, and that new members could alter priorities in areas such as strategy, transparency and compensation.
Coforge disputed Singh's claims on Friday, calling the allegation of tension "unfounded" and an "afterthought", noting there was no change in the company's direction and priorities. The company added Singh had accepted a five-year second term with the board beginning in February 2026 before the audit observations were raised.
The firm also said it was "important to clarify" that Singh's resignation followed concerns identified in the internal audit review and the subsequent process of seeking explanations from both Bhatt and Singh.
Singh did not immediately respond to requests for comment on Coforge's statement sent via LinkedIn and a text message.
Shares of Coforge slid as much as 9% after Bhatt's resignation on Wednesday and saw their worst week since the week of April 20.

 (Reporting by Abinaya V in Bengaluru; Editing by Vijay Kishore)