Infosys who is a global leader in consulting, technology and outsourcing solutions in more than 30 countries, on June 12th’2014, announced the appointment of Dr. Vishal Sikka as the Chief Executive Officer and Managing Director (CEO & MD) of the company, an eminent tech boss. He has resigned today after completion of his 3 years. The company confirmed the acceptance of his resignation to the media and Mr. UB Pravin Rao has taken over as interim CEO presently.
It is also said that with this resignation, Infosys concluded an unending fray between the company board and founder-shareholders, especially N.R. Narayana Murthy, over issues of authority. He alleged in a communication to some of his advisors that he had been informed by some of his directors at Infosys that Vishal was more a Chief Technology Officer (CTO) than a Chief Executive Officer (CEO).
It is also being a matter of dissonance that the $10-Billion company’s growth decelerate clearly after having soar in Sikka’s first two years. Infosys share price was also fallen steeply from the highs it had placed last year.The flaw between Sikka, the first non-promoter CEO of Infosys, and a section of the IT major’s promoter-shareholders, appointed by Narayana Murthy, became conspicuous in the beginning of the year as promoters started showing concerns over what they saw as deteriorating authority and values of the company. Where Sikka has spread his binary startegy (a) to renew the traditional business with automation and (b) develop new business around the new digital technologies such as cloud, AI/machine learning, analytics, big data etc.