Infosys CEO Vishal Sikka, as reported in various media reports, has offered his resignation. His resignation has come a day before the Board of Directors meeting. While the clear reason for his resignation is unknown, it is believed that the company’s rough run in the market can be one key reason.
The board has also accepted his resignation with immediate effect. According to the company statement, Sikka will continue to be with Infosys as executive vice-chairman. Meanwhile, Infosys has appointed chief operating office UB Pravin Rao as interim managing director and CEO.
Sikka tried to reinvent Infosys through a bevy of changes in the working of the company during his tenure and worked hard to revive the past glory. He took a number of bold steps to breathe new life into the company which has been caught in legacy. In the recent months, some of his key teammates left the company. His resignation might be a run up to their departure from the company.
At the same, he had strained relations with Narayan Murthy who was a constant critic of several decisions Sikka had taken to revive the company and retain talent. But it would be too early to state whether this was the true reason behind his ouster from the company.
At one time, Infosys was the biggest IT firm in India. Today it stands at No 3 after TCS and Cognizant.