Infosys CEO and MD Vishal Sikka resigns citing personal attacks

Sikka’s resignation pits Infosys board against Murthy more fireworks expected

In the long-running war of words with Infosys co-founder NR Narayanamurthy, Vishal Sikka has thrown in the towel and has resigned as CEO of Infosys. Sikka left the SAP board in May 2014 for "personal reasons" and was announced as CEO and MD of Infosys on 12 June, 2014. Infosys shares on the BSE fell over 6.6% in the morning trade and was trading at ₹954 a piece.

Rao joined Infosys in 1986, and since then has held a number of senior leadership portfolios including Head of Infrastructure Management Services, Delivery Head for Europe, and Head of Retail, Consumer Packaged Goods, Logistics and Life Sciences.

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.

Vishal Sikka was the first non-founder CEO of the company.

In June, the company informed The U.S. Securities and Exchange Commission that it identified "activist shareholders" as a potential risk to the company's execution of strategic plans and warned investors that uncertainties could impact Infosys' share price, its clientele and investor sentiment.

Drama’ in media over governance issues very distracting says Infosys CEO Sikka
Infosys CEO and MD Vishal Sikka resigns citing personal attacks

Infosys today said, "When Sikka took over, the Company was lagging behind industry growth".

The company also said that a search for the new managing director and chief executive has now been started by the company board. With over 30 years of experience at Infosys, he has seen the company grow into an IT giant.

Infosys launched more than 25 new services that helped revenue grow 8.3% in last quarter.

"Vishal has made a seminal contribution to the transformation of Infosys, and he will be remembered for infusing a refreshed sense of direction, objective and energy in the organization". In 2015, Infosys acquired Panaya, the provider of automation technology for large scale enterprise software management. His vision for the future of the industry and the Company will remain a strong reference point as we chart the future course for Infosys in this new era in our rapidly evolving industry.

"All that I hear from at least three independent directors, including Ravi Venkatesan (co-chairman), are complaints about Dr Sikka. On behalf of our entire board of directors, I wish him well for the future", said R. Seshasayee, Chairman of the Board. "I believe the fault lies with the current board".

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