Vishal Sikka has resigned as managing director and CEO of Infosys and the company's board has accepted his resignation with immediate effect, the IT major said on Friday morning. The sudden move came amid growing acrimony between the company's board and its founders led by NR Narayana Murthy. Infosys said chief operating officer UB Pravin Rao will be interim managing director and CEO. Infosys shares plunged as much as 9.4 per cent today after the announcement.
Dr Sikka, 50, has cited "increasingly personal attacks" on him as one of the reasons for his sudden decision to resign, saying they were "amplified" by people who should have supported him. He said the attacks had hit morale at the company, which has been trying to keep pace with rapid changes in the industry.
"For days, indeed weeks, this decision has weighed on me. I have wrestled the pros and cons, the issues and the counterbalancing arguments. But now, after much thought, and considering the environment of the last few quarters, I am clear in my decision. It is clear to me that despite our successes over the last three years, and the powerful seeds of innovation that we have sown, I cannot carry out my job as CEO and continue to create value, while also constantly defending against unrelenting, baseless/malicious and increasingly personal attacks," Dr Sikka, who took over three years ago, wrote on his blog.