Mumbai: In what is almost unprecedented, outgoing Infosys CEO and MD Vishal Sikka along with the company’s board have named and attacked the founder and former chairman NR Narayana Murthy as the reason behind the surprise resignation of Sikka on Friday.
However, shares of Infosys ended sharply lower by nearly 10 percent on Friday, wiping out Rs 22,519 crore from its market valuation, after Vishal Sikka, the first non- founder CEO of the company, called it quits.
UB Pravin Rao, Infosys’ chief operating officer, was named interim managing director and CEO.
As per sources, 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.
“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 management’s ability to accelerate the company’s transformation,” the company said in a BSE fililng.