Stocks of Infosys today tanked

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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

filing.

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 said.

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,"

Infosys added.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)