The managing director and Ceo of Infosys, Vishal Sikka resigned from his post yesterday. At present, Pravin Rao has been assigned as the interim CEO.
Company Secretary A.G.S. Manikantha sent a letter to stock exchanges and confirmed the resignation. The letter also mentioned that Vishal Sikka’s resignation was accepted by the board on 18th August. It was also reported that Sikka will act as the executive vice chairman of the company.
The letter read, “The succession plan for the appointment of a new managing director and chief executive officer has been operationalized by the Board and a search for the same has been commenced.”
Infosys issued a press release that said, “Sikka has been appointed Executive Vice Chairman effective today (August 18,) and will hold office until the new permanent chief executive officer and managing director takes charge, which should be no later than March 31, 2018. Sikka will continue to focus on strategic initiatives, key customer relationships and technology development. He will report to the company’s board. U.B. Pravin Rao has been appointed interim Chief Executive Officer and Managing Director reporting to Sikka under the overall supervision and control of the Company’s Board.”
Sikka’s resignation letter read, “After much reflection, I have concluded that it is indeed time for me to leave my current positions as MD and CEO, and I have communicated my resignation to Sesh. I will be working closely with Sesh, Ravi, Pravin, with all of you, and the senior management team to plan out the details and the timelines to ensure a smooth transition and in the meantime, continue our work without disruption, and ensuring that we protect our company, the employees, the clients and the interests of every shareholder. You can count on my commitment
to this.”
