Published: Sat, August 19, 2017
Economy | By Melissa Porter

Top Indian tech CEO quits over 'malicious' attacks

Top Indian tech CEO quits over 'malicious' attacks

"I can not carry out my job as CEO and continue to create value, while also constantly defending against unrelenting, baseless/malicious and increasingly personal attacks", Sikka wrote in a letter to Infosys employees, which he shared in a blog Thursday.

Murthy said, "Anguished by allegations, tone and tenor of statements made by Infosys board, below my dignity to respond to baseless insinuations".

Now, the company has told shareholders that it has accepted the notice of resignation of Sikka, effective immediately.

The board's allegations aren't baseless either, the 50-year-old CEO and MD had cited continuous distractions and disruptions and personal & negative remarks against him as reasons for his resignation and said that they were preventing his ability to accelerate the company's transformation.

"Congratulations to my friend and partner Pravin on his appointment and heartfelt thanks to all Infoscions for their warmth, incredible support and the sparks of their imagination", Mr Vishal Sikka had said about Mr Rao appointment as Interim CEO in his resignation speech. For several months now, Murthy has been raising serious concerns over the company's performance under Sikka.

Sikka's comments about the "malicious and personal attacks" appear to be aimed at Infosys co-founder NR Narayana Murthy. For the last few months, he had been actively campaigning against the Infosys board for overlooking corporate governance issues and not being transparent in deciding the severance package of senior executives.

The Infosys board Friday said it was accepting the resignation with a lot of "sadness" and blamed its founder Narayana Murthy for the sudden and dramatic resignation of the chief, Vishal Sikka.

India's second largest IT services major Infosys on Friday morning said Vishal Sikka, CEO and managing director of the company has resigned.

Infosys's stock is down $1.30 (8.13%) to $14.64 per share, the company's lowest trading price since early May.

"According to independent director and co-chairman Ravi Venkatesan, the company will now start the hunt for a new CEO, both externally and internally". However he will continue to serve the company till March 31st 2018 so that the company goes on a smooth pace and Infosys will have enough time for a new management to take their oath.

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