Cognizant Technology Solutions said in a recent regulatory filing that it is conducting an internal investigation to determine whether certain payments relating to facilities in India were made improperly and in possible violation of the U.S. Foreign Corrupt Practices Act.
Cognizant said the investigation is “being conducted under the oversight of the audit committee, with the assistance of outside counsel, and is currently focused on a small number of company-owned facilities.” Additionally, Cognizant said it has voluntarily notified the Department of Justice and the Securities and Exchange Commission and is “cooperating fully with both agencies.”
In the same regulatory filing, filed Sept. 27, Cognizant said that Gordon Coburn resigned from his position as president on Sept. 27. The following day, the board of directors appointed Rajeev Mehta to assume Coburn’s role. Mehta, who joined Cognizant in 1997, previously served as chief executive of IT Services.
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