Infosys CEO resigns

Vishal Sikka has resigned as managing director and CEO of Infosys and the company's board has accepted his resignation with immediate effect.

A succession process has been initiated, with Pravin Rao serving as interim MD & CEO.

In contrast to this, Infosys shares plunged over 7 per cent today after the announcement.

In his last note to employees, he stated: "I now need to move forward, and return to an environment of respect, trust and empowerment, where I can take on new lofty challenges, as can each of you."
This is the second time Infosys has plunged into a leadership crisis ever since the founder members retired from the top management. 

He also confirmed in his tweet :

Moving on...https://t.co/U3CJrtdz5c

— Vishal Sikka (@vsikka) August 18, 2017