Sikka's exit hit the Infosys stocks as it tanked 6 per cent in morning trade. Photograph: (AFP)
Vishal Sikka resigned as the managing director and CEO of Infosys today
Vishal Sikka resigned as the managing director and CEO of Infosys today. In a blog post titled "Moving On" Vishal Sikka said that the "personal attacks" on him was one of the reasons for his decision to resign
The company blamed "NR Narayana Murthy's continuous assault" for Sikka's resignation.
Live updates from the Infosys press conference:
Succession planning high priority for board; important that next CEO buys into vision, culture and is people- oriented: Infy co-Chair Ravi Venkatesan.
No change in buyback plans, have made commitment on how much and when to return cash to shareholders: Infy Chairman R Seshasayee.
To suggest that renowned law and audit firms will connive with board, overlook 'misdeeds' of CEO and post clean report is completely untenable: Seshasayee
To give shareholders task of taking up anonymous complaints and appointing committee for probe the best way to destroy an organisation: Seshasayee.
The Board is committed to the strategic direction set by Vishal Sikka: Ravi Venkatesan, Co-chairman Infosys
I have no interest in being the next CEO, not in contention for the position: Infosys co-chairman Ravi Venkatesan
No doubt that Vishal Sikka is a phenomenal guy, the world knows it. He has blossomed as a leader: Ravi Venkatesan
The Board currently has no intention of asking Mr Murthy to play a formal role in the governance of the organisation: Infosys
I have no interest in being the next CEO, not in contention for the position: Infosys Co-chairman Ravi Venkatesan
We came to conclusion that I will stay on as executive vice-chairman, help in transition and UB Pravin Rao will be interim CEO: Vishal Sikka
What was difficult to deal with was continuous allegations and continuous noise around the same thing: Vishal Sikka
At a point you realise it's taking a heavy toll on the organisation and personally so I felt it's an untenable situation: Vishal Sikka
In many ways it is a sad day, but in many ways it might help things: Vishal Sikka
Anguished by allegations, tone and tenor of statements made by Infosys board, below my dignity to respond to baseless insinuations: N R Narayana Murthy
I started more than 3 years ago on this journey, I am proud of the results we achieved: Vishal Sikka