New Delhi: Among the frequent disagreements with promoters, Vishal Sikka has resigned from the post of MD and CEO of Infosys. Vishal Sikka has also shared the reason for his resignation by sharing a letter. UB Pravin Rao has been entrusted with the responsibility of the company’s interim MD and CEO. Accepting the resignation of Vishal Sikka with immediate effect, the company has promoted him as Executive Vice Chairman.
— Vishal Sikka (@vsikka) August 18, 2017
After becoming the Chief Executive Officer of Infosys, the country’s second largest IT company, Vishal Sikka was also in news about its huge salaries. In the financial year 2016-17, they had paid $ 66.8 million (that is, about 43 crore rupees). This salary was much higher than that of its counterparts in IT at that time.
In fact, the promoters continued to raise voice over the changes in work culture, increment, increasing number of job vacancies, and compensation for the company drop out. Especially, the company’s co-founder, Narayana Murthy, is quite vocal about these issues. He expressed deep objection to the Severance Pay received by the company’s former CFO Rajiv Bansal.
However, Vishal Sikka accusing the continuous neglect of good work in the regression letter. He wrote in Letter that the work was continuously interrupted. Sikka wrote in his resignation, “It has become difficult for me to work in such an interruption atmosphere. All the allegations leveled against me have proved to be untrue and false. I have resigned in the interest of shareholders. ‘ On the resignation, the company said that till assuming charge of the new managing director and CEO, there will be huge Executive Vice-Chairman. This appointment will be done before March 31, 2018.