Mumbai: Infosys CEO and MD Vishal Sikka resigned from his position on Friday. He resigned after heightened acrimony between the board and its cohort of founders led by former chairman NR Narayana Murthy.
U B Pravin Rao, currently chief operating officer, has been given the interim responsibility for both the posts. Sikka has now been appointed as executive vice-chairman, Infosys added. He had just completed three years as the CEO of Infosys.
Sikka will focus on strategic matters and receive an annual salary of $1. Shares of Infosys fell as much as 7.6 percent.
“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.
Following the announcement, the stock fell to Rs 958.00, registering a fall of 6.62 percent over its previous closing price on the BSE.