Infosys Executive Chairman N R Narayana Murthy interacts with the newly appointed CEO & MD Vishal Sikka at a press conference at Infosys headquarters in Bengaluru, where the latter was appointed as the first external CEO of the company.
The move by Infosys to name former SAP AG top executive Sikka as Chief Executive Officer is a break from the tradition as, for the first time, it has not chosen one of its founders for the role, as it looks to regain market share and stem a staff exodus. (Source: PTI)
India's second-largest IT services exporter said Executive Chairman N R Narayana Murthy would step down on Saturday, nearly a year after he was brought in from retirement to help the company better compete with rivals including Tata Consultancy Services and Wipro. (Source: PTI)
Murthy's tenure, during which he also brought in his son Rohan as an executive assistant, has been marred by high staff turnover and management uncertainty, factors that led to loss of market share for a company that was once a leader in India's $100-plus billion a year IT export business, and intensified investor pressure for a change of guard. (Source: Express photo by Kashif Masood)
Sikka's biggest challenge as Infosys CEO will be to fill the leadership vacuum created by the exodus of senior executives, many of whom were responsible for key business sectors and winning clients, analysts said. (Source: Express photo by Kashif Masood)
A former executive board member of German business software company SAP, Sikka will take over on August 1 from current CEO S D Shibulal, who along with Murthy, Executive Vice Chairman S Gopalakrishnan and four others founded Infosys in 1981 by pooling together $250. Gopalakrishnan is also set to step down on Saturday. (Source: Express photo by Kashif Masood)
Some investors welcomed the move. (Source: PTI)