Vishal Sikka resigns as MD and CEO of Infosys

Vishal Sikka resigns as MD and CEO of Infosys

Vishal Sikka, Managing Director and Chief Executive Officer of Indian IT giants, Infosys, has stepped down from his position, the company announced on Friday.

U B Pravin Rao has been given the interim responsibility for both the positions. Sikka has now been appointed as executive vice-chairman and will continue to contribute to strategic initiatives, key customer relationships and technology development. He will report to the company’s board and receive an annual salary of $1 during his tenure. 

Here's what he tweeted 

He had just completed three years as the CEO of Infosys after joining in June 2014 from German multinational software corporation SAP.

The company’s stock dropped down in opening trade on Friday morning with 7 per cent down at INR 952 at 10:30 am.

For days, indeed weeks, this decision has weighed on me. I have wrestled the pros and cons, the issues and the counterbalancing arguments. But now, after much thought, and considering the environment of the last few quarters, I am clear in my decision. It is clear to me that despite our successes over the last three years, and the powerful seeds of innovation that we have sown, I cannot carry out my job as CEO and continue to create value, while also constantly defending against unrelenting, baseless/malicious and increasingly personal attacks,” Vishal Sikka.

You can read his entire statement here:

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