Vishal Sikka resigns as MD & CEO of Infosys;Stock Cracks

Vishal Sikka resigns as MD and CEO of Infosys

 Vishal Sikka has resigned as managing director and chief executive officer of the company with immediate effect, Infosys said in an official statement on Friday.

Post his decision, Sikka posted his resignation letter on his verified Twitter handle.U B Pravin Rao has been given the interim responsibility for both the posts , India's second largest software services exporter said in a statement.


Sikka has now been appointed as executive vice-chairman, Infosys added. He had just completed three years as the CEO of Infosys.

Sikka cited "a continuous stream of distractions and disruptions" in recent months, among his reasons for leaving.

Infosys has been battling both internal and external challenges in terms of uncertain global economic environment and high-profile founders flagging concerns around alleged corporate governance lapses at the company.

Full text of Sikka's resignation letter.

In the last few months, the country's second largest software firm, has seen a number of senior-level executives resigning. They include Anirban Dey (Global head and chief business officer of Edge products), Yusuf Bashir (MD, InfosysInnovation Fund) and Ritika Suri (executive vice-president).

Reacting to these top- level exits, earlier this month, Vishal Sikka had dismissed views suggesting senior-level exits at the company were a cause of concern, saying the attrition is "far lower" than other firms.

"Not at all. This is a complete nonsensical myth that has been propagated in some parts," Sikka told in a television interview when asked if the series of exits of senior talent was a cause for concern", he had said.

"It happens in every company. We actually did an analysis, both in terms of our own past as well as in terms of the other companies in our industry. And there are far more executives who have left every other company that we could think of," Sikka had added.

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