Infosys slumps after Srinivas resigns

Shares in Infosys Ltd fell as much as 7.6% in early morning trade after president and board member BG Srinivas, seen by some investors as a candidate to take over as CEO, resigned.

Shares in Infosys Ltd fell as much as 7.6% in early morning trade after president and board member BG Srinivas, seen by some investors as a candidate to take over as CEO, resigned.

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Infosys did not give a reason for his resignation in its statement to India's stock exchanges.

Srinivas, who joined in 1999, will remain in his role until June 10. He is the latest senior manager to leave India's second-largest software services exporter.