<a href="http://www.wionews.com/business-economy/vishal-sikka-resigns-as-md-ceo-of-infosys-to-be-executive-vice-chairman-19151">Vishal Sikka resigned as the managing director</a> and CEO of Infosys today.&nbsp;The company blamed&nbsp;&quot;NR Narayana Murthy&#39;s continuous assault&quot; for Sikka&#39;s resignation.

The board of directors of Infosys Ltd have accepted Sikka&#39;s&nbsp;resignation.

Speaking to investors, Sikka said headwinds are an exciting challenge, but drumbeat of allegations was &quot;sickening&quot;.

At the Infosys press conference shortly afterward, he&nbsp;said it was difficult to deal with the &quot;continuous allegations&quot;.

&quot;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,&quot; Vishal Sikka&nbsp;during the Infosys press conference.

The former Infosys CEO said he was proud of his results.

&quot;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.&quot;

Infosys Chairman R Seshasayee thanked Vishal Sikka for giving the company a new direction during his tenure.

&quot;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,&quot; he said.

&quot;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&rsquo;s [Bansal] separation, &nbsp;Panaya [acquisition].. it is absolutely sickening,&quot; Sikka told investors earlier.

Sikka added the &quot;negative environment&quot; led him to introspect. &quot;I just couldn&#39;t do it anymore&quot;.

Sikka said Pravin Rao will continue to report to him as part of the interim management setup.

&quot;You hear <a href="http://www.wionews.com/business-economy/infosys-rejects-murthys-request-to-make-panaya-acquisition-report-public-18605">Panaya in the news for all the wrong reasons</a>, but it is a very integral part of our work,&quot; Sikka said.

&quot;I am still here to guide the change,&quot; Sikka insisted.

Sikka said the attacks against had got &quot;malicious and personal&quot; in recent months, adding the Board had asked him to reconsider his decision.

&nbsp;In a blog post titled &quot;Moving On&quot;, the former Infosys CEO&nbsp;had&nbsp;said that the &quot;personal attacks&quot; 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&#39;s allegations and came down staunchly in support of Sikka. Murthy has raised concerns about the standards of the&nbsp;corporate governance of the Infosys Board. He has also&nbsp;&nbsp;questioned the high compensation paid to Sikka and the&nbsp;severance package of some of the former top executives.

&quot;To suggest that renowned law and audit firms will connive with board, overlook &#39;misdeeds&#39; of CEO and post clean report is completely untenable,&quot; Seshasayee said.

&quot;To give shareholders task of taking up anonymous complaints and appointing committee for probe the best way to destroy an organisation.&quot;

Meanwhile, Infosys shares tanked ten per cent in intraday trade after news broke about Sikka&#39;s resignation.&nbsp; 
&nbsp;

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's resignation. Speaking to investors, Sikka said headwinds are an exciting challenge, but drumbeat of allegations was "sickening". At the Infosys press conference shortly afterward, he said 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 Sikka during 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 CEO had said 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 the corporate governance of the Infosys Board. He has also questioned the high compensation paid to Sikka and the severance 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.

Drumbeat of allegations was 'sickening': Vishal Sikka after resignation

Indian shares fell on Friday, snapping a three-day winning streak, as Infosys<a href="http://www.wionews.com/business-economy/infosys-crisis-drumbeat-of-allegations-was-sickening-sikka-to-investors-19164">&nbsp;Chief Executive Vishal Sikka&#39;s resignation sent the stock </a>tumbling, although rivals such as Tata Consultancy Services gained.

<a href="http://www.wionews.com/business-economy/vishal-sikka-resigns-as-md-ceo-of-infosys-to-be-executive-vice-chairman-19151">Sikka resigned as chief executive and managing director of Infosys</a> with immediate effect and the country&#39;s no.2 IT services company named UB Pravin Rao as his interim replacement.

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.

The sentiment was also hit as Asian shares joined a global retreat from riskier assets on rising doubts about US President Donald Trump&#39;s ability to deliver his economic agenda.

But Indian indexes were still headed for their sixth weekly gain in seven, though they remain below the record highs hit on August 2.

&quot;There is some dip because of Infosys. Market is under pressure, the uptrend which was there since December is under pressure,&quot; said Anupam Singhi, chief operations officer, Marketsmith India, part of William O&#39;Neil India.

The broader NSE Nifty was down 0.74 per cent at 9,830.40 as of 0636 GMT, but was up 1.3 per cent for the week.

The benchmark BSE Sensex was 0.88 per cent lower at 31,513.91, but was up 1 per cent for the week.

Drug makers, which have significant exports to the United States, also dropped, with the Nifty Pharma index falling as much as 1.7 per cent.

But Infosys&#39; rivals gained, with Tech Mahindra&nbsp;and Tata Consultancy Services&nbsp;rising over 2.5 per cent each.

Bank shares were also a big drag on the indexes.

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

Indian shares fell on Friday, snapping a three-day winning streak, as Infosys Chief Executive Vishal Sikka's resignation sent the stock tumbling, although rivals such as Tata Consultancy Services gained. Sikka resigned as chief executive and managing director of Infosys with immediate effect and the country's no.2 IT services company named UB Pravin Rao as his interim replacement. 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. The sentiment was also hit as Asian shares joined a global retreat from riskier assets on rising doubts about US President Donald Trump's ability to deliver his economic agenda. But Indian indexes were still headed for their sixth weekly gain in seven, though they remain below the record highs hit on August 2. "There is some dip because of Infosys. Market is under pressure, the uptrend which was there since December is under pressure," said Anupam Singhi, chief operations officer, Marketsmith India, part of William O'Neil India. The broader NSE Nifty was down 0.74 per cent at 9,830.40 as of 0636 GMT, but was up 1.3 per cent for the week. The benchmark BSE Sensex was 0.88 per cent lower at 31,513.91, but was up 1 per cent for the week. Drug makers, which have significant exports to the United States, also dropped, with the Nifty Pharma index falling as much as 1.7 per cent. But Infosys' rivals gained, with Tech Mahindra and Tata Consultancy Services rising over 2.5 per cent each. Bank shares were also a big drag on the indexes.

Sensex falls as Infosys CEO resigns

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