D.K. Singh, an independent director and the chairperson of Coforge's Nomination and Remuneration Committee (NRC), has stepped down from the IT services company's board, effective immediately. Singh submitted his resignation on Thursday, September 10, following what he described as “unfortunate events of the past several weeks” and the earlier resignation of former chairman O.P. Bhatt.
Singh's departure comes days after Bhatt's resignation, which stemmed from concerns raised by an internal audit conducted by KPMG. The audit highlighted irregularities in the handling of Bhatt’s performance evaluation scores. Specifically, the scores were provided to Singh in his capacity as NRC chairman but were not subsequently shared with the full board of directors.
“While I welcome constructive debate and different viewpoints, I believe the current circumstances may make it increasingly difficult for me to effectively fulfill my responsibilities as an independent director and, most importantly, to exercise the independent judgment I believe is necessary to act in the best interests of the company and all of its shareholders,” Singh stated in his resignation letter.
He further elaborated on the challenges faced since joining Coforge's board in 2024. At that time, the company was transitioning from a private equity-led board to one with greater independence. Singh noted that while he believed the transition was progressing positively, it had also generated significant differences and tension, particularly between the independent and executive directors.
Singh also expressed apprehension that the addition of new board members could introduce further shifts in the company's strategic direction, transparency practices, and compensation policies. His resignation underscores ongoing governance challenges at the IT firm.