Mumbai: Infosys Ltd said on Friday Vishal Sikka has resigned as managing director and chief executive of the company with immediate effect. Sikka has now been appointed as executive vice-chairman, Infosys added.
Sikka has resigned amid heightened acrimony between the board and the high-profile founders led by NR Narayana Murthy, saying he faced "false, baseless, malicious and increasingly personal attacks".
Infosys COO U B Pravin Rao has been named as the Interim -MD and CEO of the firm.
"The succession plan for appointment of a new Managing Director and Chief Executive Officer has been operationalised by the board and a search for the same has been commenced," Infosys said.
“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,” the company said in a BSE fililng.
Following the announcement, the stock fell to Rs 958.00, registering a fall of 6.62 percent over its previous closing price on the BSE.
Similar movement was seen on the NSE as well where the stock opened at Rs 1,017.90, fell to Rs 952.30, down 6.71 per ent over its previous close.
With Agency Inputs
