Cognizant Announces Chief Financial Officer Transition

Seasoned Financial Leader Jan Siegmund to Be Appointed CFO, Effective September 1, 2020

Current CFO Karen McLoughlin to Retire; Will Remain with the Company through the End of 2020

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Jul 29, 2020, 16:05 ET

TEANECK, N.J., July 29, 2020 /PRNewswire/ -- Cognizant Technology Solutions Corporation (Nasdaq: CTSH), one of the world's leading professional services companies, today announced that Jan Siegmund will be appointed Chief Financial Officer, effective September 1, 2020.

Siegmund most recently served as CFO of Automatic Data Processing ("ADP"), a leading global human capital management technology and service provider. He will succeed Karen McLoughlin, who will continue in the CFO role through August 31, 2020, and will remain with the Company in an advisory role through December 31, 2020.

"Jan is an accomplished executive with a wealth of experience in finance, strategy and general management," said Brian Humphries, Chief Executive Officer. "He has the right set of leadership attributes and industry experience to help drive the continued execution of our strategic growth plan. We look forward to welcoming him to the team on September 1."

Humphries continued, "Karen has been an outstanding CFO and business partner, and has also been an invaluable resource for me during my first year with the company. We are not only thankful for her significant contributions over her tenure, but also for her commitment to ensuring a smooth CFO transition. On behalf of everyone at Cognizant, I wish Karen the very best in her next endeavors."

"Having been with the Company since 2003 and served as CFO for 8 years – and as someone who cares deeply about the future of Cognizant – I'm very pleased to pass the baton to someone as qualified as Jan," said McLoughlin. "I am proud of what we have accomplished and confident we have now positioned the company for success in the years ahead. I look forward to welcoming Jan and supporting a smooth transition."

"I am excited to join Cognizant during this important chapter in the company's history," said Siegmund. "Cognizant has a compelling global platform and is well positioned to capture a growing industry opportunity as companies shift to digital business models. I look forward to working with Brian and the rest of the Cognizant team to help our clients achieve their goals and create value for all our stakeholders."

Siegmund previously held various leadership and executive roles during his 20-year tenure at ADP, most recently serving as Corporate Vice President and Chief Financial Officer from 2012 to 2019. Prior to that, Siegmund was Chief Strategy Officer and President of ADP's Added Value Services Division from April 2009 to October 2012, where he developed and executed the segment's growth strategy through technology investments, acquisitions, and the creation of new distribution channels. He started his career at McKinsey & Company. Siegmund is a member of the Board of Directors of The Western Union Company.

SOURCE Cognizant