Vishal Sikka resigns as Infosys CEO

19 August, 2017, 08:05 | Author: Valerie Burke
  • Infosys chief Vishal Sikka steps down as MD and CEO

"Murthy's campaign against the board has had the unfortunate effect to undermine the company's efforts to transform itself", Infosys said, adding that dialogue attempting to resolve differences with Murthy were unsuccessful.

Mr Rao will report to Mr Sikka, who will take on the executive vice-chairman role until a permanent CEO takes charge, which should be no later than end-March next year, Infosys said.

After becoming the Chief Executive Officer of Infosys, the country's second largest IT company, Vishal Sikka was also in news about its huge salaries.

In his resignation letter, Sikka referred to "false, baseless, malicious and increasingly personal attacks" from the founders that had undermined the company.

He will stay on as executive vice chairman while Infosys veteran UB Pravin Rao, now chief operating officer, will take over as interim chief executive.

Stocks of Infosys on Friday tanked over 13 percent in afternoon trade after Vishal Sikka resigned as MD and CEO of the firm.

Murthy, who has been in a long-running battle with the board and top management of the company he founded with six others over three decades, said his concern primarily was the "deteriorating standard" of corporate governance at Infosys.

"I am anguished by the allegations, tone and tenor of statements made by Infosys board".

Trump disbands business councils amid Charlottesville backlash
Later, Trump called those who were leaving "grandstanders" and insisted many others were eager to take their places. According to ESPN journalist Dave McMenamin, James called Trump was "the so-called president".

Marvel's The Defenders Gets One More Trailer Before Premiere Day
The series follows the releases of Marvel's Daredevil , Marvel's Jessica Jones , Marvel's Luke Cage and Marvel's Iron Fist . Colleen WingThe former Hand apprentice has shifted allegiances before-will she stay loyal to Danny in " The Defenders? ".

Tom Brady heaps praise on Deshaun Watson
Both teams believe these practices are a valuable tool for preparing for the season and breaking the monotony of training camp. But yeah, he's, again, we've talked a lot about coaching teams, coaching players, dealing with different situations.

Rallying behind Sikka, the company's powerful board blamed Murthy's continuous assault, including his latest letter to the media as the primary reason for Sikka's resignation.

Aug 2017: Sikka resigns as CEO, citing a stream of distractions and disruptions.

Mumbai: The Infosys board on Friday came out in full support of the outgoing leader Vishal Sikka and said that he is not only a "phenomenal technical guy", he has also "blossomed into a high-performing CEO".

The comments came in response to Murthy's earlier statement where he had said that he regretted quitting as chairman of Infosys in 2014 and added that he should have listened to other co-founders and stayed on.

The Infosys board has been engaged in a war of words with the company's founders for some time.

"This is a blue whale game played by Narayana Murthy for Sikka".

"After much reflection, I have concluded that it is indeed time for me to leave my current positions as MD and CEO, and I have communicated my resignation to Sesh".



Tottenham Hotspur sign Davinson Sanchez
He played in last season's Europa League final, which Manchester United won 2-0, and was named Ajax's player of the year in May. Either way it is Spurs' new club-record deal, beating the £30 million that was paid for both Erik Lamela and Moussa Sissoko .

UN Says Over 400 Died in Sierra Leone Mudslides
Rainfall remains in the forecast for the coming days, slowing recovery efforts and bringing the threat of further mudslides. The capital is also plagued by unregulated construction on its hillsides.

CBO: Withholding ACA Subsidies Would Send Premiums Soaring
The subsidies make Obamacare plans more affordable for low-income people - something insurers depend upon. Adding to the confusion, other parts of the law clearly direct the government to reimburse the carriers.

Justin Bieber looks to make 'Friends' with new song
He explained, "I want my career to be sustainable , but I also want my mind heart and soul to be sustainable. So that I can be the man I want to be, the husband I eventually want to be and the father I want to be".

Korean leaders, USA open door to diplomacy in nuclear crisis
Kim was pictured for the first time in weeks last night, examining plans for a strike on American military targets in Guam. Secretary of State Rex Tillerson said after Kim postponed the threat that Washington remains ready for talks.

Cavs' Kyrie Irving Trade Shaping LeBron James Future
Potential chemistry issues aside, if Kyrie Irving is in a Cavs uniform, it's tough to peg anyone else in that top spot. Plus, Irving and Bradley, might be able to attract additional talent to Detroit should the team be competitive.

Malala just got into Oxford University
Malala took to twitter today to express her excitement as her A levels grades confirmed her placement at Oxford University. Malala was almost killed by the Taliban in Pakistan for campaigning for girls' rights to education in 2012.

Uber says sorry to LTFRB
Lugtu then was picked up by the vehicle of UBER with Plate Number NS 9276 driven by Respondent Joseph Ravile", it said. When asked what penalties Uber is likely to face, Lizada said: "I do not like to preempt the decision of the board".

Pope prays for victims, rescue workers of Sierra Leone mudslide
Several thousand people are still missing in Sierra Leone after heavy rain caused mudslides, a charity has told Sky News. Some global aid for the thousands of people left homeless by the mudslide has begun to arrive in the country.

Kim Jong-un backs away from plan to attack Guam
South Korean Vice Defence Minister Suh Choo-suk highlighted doubts about North Korea's claims about its military capability. The plans are based on the Hwasong-12, a new missile the country successfully flight-tested for the first time in May.