Published On: Fri, Aug 18th, 2017

Infosys CEO Vishal Sikka resigns, Pravin Rao interim CEO, MD

Bengaluru: Vishal Sikka on Friday resigned as Chief Executive Officer (CEO) and Managing Director (MD) of global software major Infosys Ltd, said the company.

Board of Directors has accepted the resignation of Vishal Sikka

“The Board of Directors has accepted the resignation of Vishal Sikka… with immediate effect at its meeting held on Friday,” said the IT major in a statement here.

Sikka, the first non-founder CEO of the Bengaluru-based company, took charge in 2014 and he will now be succeeded by chief operating officer Pravin Rao, who will be interim-MD and CEO.

“Dr Sikka reiterated his belief in the great potential of Infosys, but cited among his reasons for leaving a continuous stream of distractions and disruptions over the recent months and quarters, increasingly personal and negative as of late, as preventing management’s ability to accelerate the Company’s transformation,” Infosys said in a filing with the BSE. Shares of the company dropped about 6% and were trading at Rs 960 in morning trade.

The company said the board was distressed by the unfounded personal attacks on the members of our management team that were made in the anonymous letters and have surfaced in recent months. “A series of careful investigations found no merit to the unsubstantiated and anonymous allegations that had been asserted. The board denounces the critics who have amplified and sought to further promote demonstrably false allegations which have harmed employee morale and contributed to the loss of the company’s valued CEO,” it added.

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