Infosys CEO and MD Vishal Sikka resigned from his position on Friday. Sikka has now been appointed as the Executive Vice Chairman for Infosys, at least until the company finds a permanent CEO. For now, though the tech giant has appointed U.B. Pravin Rao appointed as interim MD and CEO of Infosys. In his resignation speech, Sikka says, “I feel proud of our progress and achievements.”
A statement issued by the Infosys board hinted that Sikka resigned due to his ongoing tussle with the company co-founder Narayana Murthy. The board statement reads, “In his notice of resignation to the board, Dr Sikka reiterated his belief in the great potential of Infosys, but cited among his reasons for leaving a continuous stream of distractions and disruptions over the recent months and quarters, increasingly personal and negative as of late, as preventing management’s ability to accelerate the company’s transformation.”
“The board understands and acknowledges Dr. Sikka’s reasons for resignation, and regrets his decision. In particular, the board is profoundly distressed by the unfounded personal attacks on the members of our management team that was made in the anonymous letters and have surfaced in recent months,” noted the statement Sikka, in his resignation letter too, cited personal and malicious attacks as his reason for resignation. “Over the last many months and quarters, we have all been besieged by false, baseless, malicious and increasingly personal attacks. Allegations that have been repeatedly proven false and baseless by multiple, independent investigations. But despite this, the attacks continue, and worse still, amplified by the very people from whom we all expected the most steadfast support in this great transformation. This continuous drumbeat of distractions and negativity over the last several months/quarters, inhibits our ability to make positive change and stay focused on value creation,” said Sikka.
Official statement from Infosys was, however, much muted. It said that Sikka is now 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. He will also look after the strategic initiatives. “Sikka will continue to focus on strategic initiatives, key customer relationships and technology development. He will report to the Company’s Board. UB 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,” said Infosys.