Vishal Sikka resigns from Infosys: A chronology of the bitter war within
Vishal Sikka, the chief executive brought in to turn around Infosys three years ago, resigned suddenly on Friday, blaming a “continuous drumbeat of distractions” and a long-running row with founders over the tech firm’s strategy.
Shares in the company fell by more than 13% after the surprise announcement.
UB Pravin Rao, Infosys’ chief operating officer, was named interim managing director and CEO. Rao will report to Sikka, who will take on the executive vice chairman role until a permanent CEO takes charge, which should be no later than end-March 2018, Infosys said.
The company’s board came out in support of Sikka and said in a statement that founder and former-chairman Narayana Murthy’s continuous assault was the main reason for Sikka’s resignation.
Murthy said he was “extremely anguished by the allegations, tone and tenor of the statements” and that his main concern was the deteriorating standard of corporate governance.