Infosys has started the process of looking for a successor to Sikka, and will look at talent both within and outside the company, Venkatesan said. Yesterday, it was announced that the board of Infosys, India's second largest software services firm, will meet on August 19 to consider up to Rs 13,000-crore share buyback proposal.
"The resignation of Sikka triggered by "the continuous stream of distractions and disruptions over the recent months and quarters" is very unfortunate". Infosys has been keen on new firms like data analytics and Sikka's resignation adds leadership instability in Infosys for source commented a top official from the company. "It is a bit sad, but I hope this will help the company improve and move on", Sikka told reporters via a video call from the United States, along with Board chairman R Seshasayee.
Pravin Rao will take over as interim CEO and Sikka will become executive vice chairman until a new CEO is found, Reuters reported.
"Murthy has made repeatedly made inappropriate demands which are inconsistent with his stated desire for stronger governance", Infosys said.
Sikka has been appointed as the executive vice-chairman of Infosys for now and will likely hold the new post till the new permanent CEO and MD take charge, which is expected to happen by 31 March next year.
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The Romanian's last two wins over Stephens both came in the United States - in Miami in 2015 and Washington earlier this year. David Ferrer reached his first ATP Masters quarterfinal in his last 11 tries with a 6-4, 6-4 win over Pablo Carreno Busta.
Infosys is likely to struggle to reach its ambitious US$20 billion revenue target by 2020 in what Mr Sikka has previously described as a "challenging environment out there".
"I am extremely anguished by the allegations, tone and tenor of the statements", Murthy said in a letter reprinted by the Hindustan Times and other publications.
Rao, with more than 30 years of experience, is presently the Chairperson of Infosys BPO.
Murthy and others had questioned the high compensation paid to Sikka as also severance package to certain former executives. In a statement, the IT major said the Infosys founder had attacked the integrity of the Board in the letter.
"Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Infosys Limited ("Infosys" or the "Company") (NYSE: INFY)".