Infosys CEO Vishal Sikka resigns

Vishal Sikka, CEO and managing director of Infosys, has resigned.

The Board of Directors of the country’s second largest software exporter accepted his resignation “effective immediately,” a statement issued by the company said.

Mr. Sikka has been appointed executive vice chairman effective Thursday and will hold office until a permanent chief executive officer and managing director takes charge, which should be no later than March 31, 2018, the statement said.

Mr. Sikka will continue to focus on strategic initiatives, key customer relationships and technology development and chief operating officer U. B. Pravin Rao has been appointed interim chief executive officer and managing director reporting to him under the overall supervision and control of the Board, the statement said.

Mr. Sikka cited among his reasons for leaving “a continuous stream of distractions and disruptions over the recent months and quarters, increasingly personal and negative as of late, as preventing management’s ability to accelerate the company’s transformation,” the statement said.