Drumbeat of allegations was 'sickening': Vishal Sikka after resignation
Sikka resigns from Infosys
Sikka said the "negative environment" led him to introspect. "I just couldn't do it anymore".
Vishal Sikka resigned as the managing director and CEO of Infosys today.The company blamed"NR Narayana Murthy's continuous assault" for Sikka's resignation.
The board of directors of Infosys Ltd have accepted Sikka'sresignation.
Speaking to investors, Sikka said headwinds are an exciting challenge, but drumbeat of allegations was "sickening".
At the Infosys press conference shortly afterward, hesaid it was difficult to deal with the "continuous allegations".
"It was difficult to deal with the continuous allegations and noise regarding Rajiv Bansal separation, and many other issues. I realised that it was taking a heavy toll on not only the organization but also me. So, I felt that it is an undeniable situation and should come to an end," Vishal Sikkaduring the Infosys press conference.
The former Infosys CEO said he was proud of his results.
"I started more than three years ago on this journey, I am proud of the results we achieved. Automation and invocation have always been my main endeavour."
Infosys Chairman R Seshasayee thanked Vishal Sikka for giving the company a new direction during his tenure.
"I thank Vishal for bringing the new level of energy to this company. We will not only take the transition smooth, but we will also make sure that we get the right kind of leadership to move forward," he said.
"What has been going on since the last 4-5 quarters, especially since February, this continuous drumbeat of these allegations, news stories, the same stuff over Rajiv’s [Bansal] separation, Panaya [acquisition].. it is absolutely sickening," Sikka told investors earlier.
Sikka added the "negative environment" led him to introspect. "I just couldn't do it anymore".
Sikka said Pravin Rao will continue to report to him as part of the interim management setup.
"You hear Panaya in the news for all the wrong reasons, but it is a very integral part of our work," Sikka said.
"I am still here to guide the change," Sikka insisted.
Sikka said the attacks against had got "malicious and personal" in recent months, adding the Board had asked him to reconsider his decision.
In a blog post titled "Moving On", the former Infosys CEOhadsaid that the "personal attacks" on him was one of the reasons for his decision to resign
During the investor meet, Infosys co-chairman Ravi Venkatesan said the Board has no intention of inviting Narayana Murthy to be a part of the formal governance of the company.
Infosys has strongly defended the former CEO.
Infosys chairman R Seshasayee refuted Narayan Murthy's allegations and came down staunchly in support of Sikka. Murthy has raised concerns about the standards of thecorporate governance of the Infosys Board. He has alsoquestioned the high compensation paid to Sikka and theseverance package of some of the former top executives.
"To suggest that renowned law and audit firms will connive with board, overlook 'misdeeds' of CEO and post clean report is completely untenable," Seshasayee said.
"To give shareholders task of taking up anonymous complaints and appointing committee for probe the best way to destroy an organisation."
Meanwhile, Infosys shares tanked ten per cent in intraday trade after news broke about Sikka's resignation.