Vishal Sikka resigned as Infosys CEO on Friday, blaming a “continuous drumbeat of distractions” and triggering a war of words between founder NR Narayana Murthy and the board of the software giant. Sikka’s surprise move sent Infosys shares plummeting, which closed down 9.6%, the biggest daily fall in more than four years. UB Pravin Rao, Infosys’ chief operating officer, was named interim chief executive. Murthy had also publicly lambasted Infosys in the past six to seven months for alleged lapses in corporate governance, allegations the company has denied repeatedly. Sikka, known for his black T-shirts in contrast to his suit-clad peers, suceeded Murthy as Infosys head three years ago, the first non-founder to head the software giant.

Source: Hindustan Times August 18, 2017 11:29 UTC