Sikka quits as Infy CEO over ‘personal attacks’
Narayana Murthy says below dignity to respond
BENGALURU: A little more than three years after he became the first non-founder chief executive of Infosys Ltd, Vishal Sikka resigned abruptly on Friday, plunging India’s second biggest information technology (IT company into the most severe leadership crisis in its 36-year history.
Sikka’s departure raises the prospect of sweeping changes in the company’s leadership team over the coming weeks.
His resignation forced the company to elevate chief operating officer UB Pravin Rao as interim CEO, even as the board prepares for a larger battle with founder NR Narayana Murthy, whom it unequivocally blamed for the prevailing chaos at the company in a scathing six-page statement.
Sikka, 50, will now be executive vice-chairman. Infosys expects to conclude its search for his replacement by March 2018.
The battle for control between the founders and the board will decide the future of Infosys and its shareholders. On Friday, Infosys shares plummeted 9.6%, wiping out ₹23,000 crore of investor wealth.
In a hurriedly organized press conference at Infosys’s headquarters, Sikka, speaking over a video link from Palo Alto, California, blamed the tussle between the company and its founders for his decision, saying that it had taken “a personal toll” on him.
› You realize that this is taking a heavy toll on the organization... a heavy toll personally VISHAL SIKKA, former CEO, Infosys
› I will reply to these allegations in the right manner and in the right forum and at the appropriate time NR NARAYANA MURTHY, founder