Stocks of Infosys today tanked
over 6 per cent in early morning trade after Vishal Sikka
resigned as MD and CEO of the firm.
"...The board of directors of Infosys Limited has at its
meeting today accepted the resignation of Dr Vishal Sikka as
the Managing Director and Chief Executive Officer of the
company with immediate effect," the IT firm said in a BSE
Following the announcement, the stock fell to Rs 958.00,
registering a fall of 6.62 per cent over its previous closing
price on the BSE.
Similar movement was seen on the NSE as well where the
stock opened at Rs 1,017.90, fell to Rs 952.30, down 6.71 per
cent over its previous close.
Sikka has been appointed as the Executive Vice-Chairman,
Infosys COO U B Pravin Rao has been named as the Interim
-MD and CEO of the firm.
"The succession plan for appointment of a new Managing
Director and Chief Executive Officer has been operationalised
by the board and a search for the same has been commenced,"
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)