Infosys shares rose in-line with the broader IT benchmark on Wednesday, a day after the company's global sales head Basab Pradhan quit from his job. Mr Pradhan's resignation came days before Infosys reports its quarterly earnings.
Infosys gave no reason for the departure, while Mr Pradhan tweeted that he was "going back to the startup world".
Hitesh Shah of IDFC Securities told NDTV that the resignation will have no material bearing on Infosys because the company has seen quite a few exits over the last few years.
However, there's speculation whether Mr Pradhan's departure is related to the ongoing re-structuring at Infosys, underway since founder N.R. Narayana Murthy returned to don the leadership mantle again in June.
"It could be a case of someone else coming in between the chief executive official and Basab in terms of organizational structure and Basab not happy with it...," Mr Shah said.
Infosys, once considered the bellwether of India's $108 billion IT outsourcing sector, brought back Mr Murthy on June 1 to effect a turnaround.
"Was it his underperformance or no change that he brought to the company... that may be a reason he moved out," Mr Shah said.
Addressing investors at Infosys annual general meeting last month, Mr Murthy had promised decisive and painful action, and analysts say senior level changes might be a part of this strategy.
"NRN Murthy has said it openly that he has invited back some of his senior guys... Subash Dhar, who headed sales between 2004 and 2011 and got back some of the marquee clients like BT coming to Infosys fold... Is he coming back and that's why Basab is leaving. There are lots of points to be thinking about," Mr Shah said.
Mr Dhar, group head of sales and marketing at Infosys, quit in June 2011 to become an entrepreneur. He joined the list of names like TV Mohandas Pai (Infosys's HR head) who had quit earlier in April 2011.
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