WOODLAND PARK, N.J. _ Cognizant Technology Solutions Corporation is conducting an internal investigation into whether certain payments relating to company-owned facilities in India violated the U.S. Foreign Corrupt Practices Act, the company said Friday in a regulatory filing.
In the same U.S. Securities and Exchange Commission filing, the company, headquartered in Teaneck, also said that its president, Gordon Coburn, resigned on Tuesday and has been replaced by Rajeev Mehta, chief executive officer of information technology services.
The company did not say why Coburn quit, or if the leadership change is related to the investigation.
Cognizant said in the filing it has voluntarily notified the U.S. Department of Justice and the SEC about the investigation and is cooperating fully with both agencies.
"The internal investigation is in its early stages, and the company is not able to predict what, if any, action may be taken by the DOJ, SEC or any governmental authority in connection with the investigation or the effect of the matter on the company's results of operations, cash flows or financial position," Cognizant said in the filing.
Mehta, 49, has been with Cognizant since 1997.
