Infosys MD & CEO Vishal Sikka resigns; UB Pravin Rao takes interim charge
The Dollar Business Bureau
Vishal Sikka has resigned from his post as Managing Director (MD) and Chief Executive Officer (CEO) of Infosys on Friday. The IT bellwether has accepted his resignation during a board meeting held on August 18, the Indian IT major said in a press release.
In his resignation notice to the Infosys board, Sikka reiterated his confidence in the huge potential of the company, citing reasons that a constant stream of disruptions and distractions over the last few months and quarters, increasingly negative and personal as of late, were preventing the ability of management to speed up the company's transformation.
“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. I will be working closely with Sesh, Ravi, Pravin, with all of you, and the senior management team to plan out the details and the timelines to ensure a smooth transition and in the meantime, continue our work without disruption, and ensuring that we protect our company, the employees, the clients, and the interests of every shareholder. You can count on my commitment to this,” he said in his resignation letter.
Sikka has been appointed as the Executive Chairman of the company, until a new MD and CEO takes charge.
In his new role, he would continue to concentrate on the strategic initiatives, major client relationships and technological development, Infosys said in a statement.
“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 the management’s ability to accelerate the company's transformation,” the company said in a BSE filing.
Sikka, a former leader at Germany’s multinational software corporation SAP, had joined Infosys in June 2014.
There were reports that differences were simmering between Sikka and NR Narayana Murthy, one of the founders of Infosys, and for quite some time, with Murthy repeatedly criticising the policy decisions of Sikka in the company.
The succession plan for appointing a new MD and CEO has been into operation and a search has started for the same, the company said.
In the meantime, UB Pravin Rao, who joined Infosys in 1986, has been appointed as the interim MD and CEO.
Rao, with more than 30 years of experience, is presently the Chairperson of Infosys BPO. He supervises the major functions of the company’s global sales, delivery and other business-enabling functions.