The tech Giant Infosys CEO Vishal Sikka quits his position from Indian IT firm on Friday. The board of directors has accepted his resignation letter as well The board has appointed U B Pravin Rao as interim MD and CEO. The interim CEO of Infosys will now be reporting to Sikka under the overall supervision and control of the company’s board.
Infosys CEO Vishal Sikka quits his position; meanwhile, U B Pravin Rao has been appointed as MD and CEO
Infosys board of directors have accepted the resignation letter of CEO Vishal Sikka with immediate effect. From now he will continue as executive vice chairman of Infosys. Meanwhile, the company board appointed U B Pravin Rao as CEO and MD of Infosys.
In his resignation letter, Vishal mentioned: “The succession plan for the appointment of a new Managing Director and Chief Executive Officer has been operationalized by the Board. A search for the same has been commenced.”
The board thanked Sikka for his extraordinary contribution to the company. It also did a series of investigation into the allegation those were made against Sikka. And all those allegations were found no merit. The board also disapproved completely the critics who promoted false allegation.
One of the company statement revealed company’s “strong margin performance and cash generation” during Sikka’s tenure at Infosys. But Sikka’s rule is now under much criticism regarding company’s run. Even Narayana Murty, the founder of the company raised a question regarding Rs 23 Crore severance package that was given to the departing chief financial officer.
Vishal Sikka associated with Infosys in April 2014 with a team from SAP SE, his former workplace.