He will now be the executive vice chairman
The decision came a day after company's chief executive officer Vishal Sikka announced his sudden resignation
Indian shares fell on Friday led by Infosys that plunged after the resignation of Chief Executive Vishal Sikka heightened uncertainty about the IT services provider's future
Sikka said the "negative environment" led him to introspect. "I just couldn't do it anymore".
Indigo cancelled the flights because of issues with its Pratt and Whitney made engines on its Airbus A320 neo aircraft
Infosys shares fell as much 9.4 per cent to their lowest since June 28, on way to their steepest intraday percentage loss since April 2013
Vishal Sikka resigned as the managing director and CEO of Infosys today
The release date of which may come out soon with the launch of Apple iPhone 8 in September.
A van driver ploughed into crowds of pedestrians on Barcelona's most popular street in broad daylight on Thursday, killing 13 people in an attack claimed by the Islamic State jihadist group
While Apple has not revealed any plans publicly, a report that the iPhone maker could spend a billion dollars on its own shows suggested more disruption for a sector seeing rapid changes
The investment bank was among the biggest losers on the blue-chip Dow Jones Industrial Average, which had its largest drop in three months and turned negative for the month