Coforge chairman O P Bhatt resigns following internal audit concerns

Coforge chairman O P Bhatt has resigned with immediate effect following an internal audit that raised concerns regarding the company’s board evaluation process. The audit, which reviewed the Board Evaluation Exercise conducted in early 2026, identified issues with how the resulting report was handled and presented to the board. Specifically, the company noted that material information, including details concerning the chairman’s own performance, had not been fully disclosed to the board.

Bhatt, the former chairman of State Bank of India, tendered his resignation on September 8 while the board was still evaluating his response to their concerns. In his resignation letter, Bhatt stated that continuing on the board amidst a disagreement regarding his actions in the evaluation process would not be conducive to effective functioning.

Coforge has appointed non-executive independent director Vivek Sharma as interim chairperson, a role he will hold until January 31, 2027. The company clarified that the audit findings relate strictly to the regulatory board evaluation exercise and are not connected to financial statements, financial reporting, or the company’s business operations and guidance. Following the news, Coforge shares experienced a decline, falling as much as 8.7% during intraday trading.