Vishal Sikka's resignation comes after protracted clash with Narayana Murthy and other founders.
Highlights
- Murthy has been singled out by Infosys for Vishal Sikka's resignation
- Murthy says he is concerned over "deteriorating corporate governance"
- Mr Sikka was the first non-founder to be named CEO of Infosys
Infosys founder Narayana Murthy, singled out by the board of the software giant for the
abrupt resignation of CEO Vishal Sikka, today said he is "anguished" by the allegations and is not seeking money, position for children or power." The 70-year-old reiterated that his chief concern has been "the deteriorating standard of corporate governance".
Mr Sikka quit Infosys three years after he became the
first non-founder to be named the CEO of Infosys. His resignation comes after a protracted clash with Mr Murthy and other founders over his own pay as well as severance packages provided to top executives. The board has
promoted Chief Operating Officer U.B. Pravin Rao as the interim CEO till a replacement is named.
A recent letter by Mr Murthy which allegedly attacked the integrity of the board was named by the company in its statement on Mr Sikka's exit.
"Murthy's continuous assault, including his latest letter, is the primary reason for the resignation of Sikka despite strong Board support," said the IT major in a statement after it accepted Mr Sikka's resignation and appointed him as Vice-Chairman till the new Chief Executive is appointed by March 31, 2018.
"Murthy's letter contains factual inaccuracies, already disproved rumours, and statements extracted out of context from his conversations with Board members," asserted the company.
Mr Sikka has blamed "
unrelenting, baseless/malicious and increasingly personal attacks" for his decision.
Here's Narayana Murthy's response after Vishal Sikka steps down as Infosys CEO: