Top Executive Quits Infosys For 'Out-Of-The World' Assignment

Infosys on Friday announced the appointment of Karmesh Vaswani as the global head-retail, CPG & logistics and Nitesh Banga as the global head of manufacturing.

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Top Executive Quits Infosys For 'Out-Of-The World' Assignment

Sandeep Dadlani said he has decided to pursue his personal interests elsewhere


Highlights

  1. Sandeep Dadlani's exit comes a surprise to some analysts
  2. Domestic brokerage termed his exit as a temporary hiccup
  3. Edelweiss has a 'buy' rating on Infosys shares
Sandeep Dadlani, president and head of Americas for Infosys, has resigned, which is seen as a setback for the IT major. Announcing his departure on professional networking site LinkedIn, Mr Dadlani said: "I have decided to pursue my personal interests elsewhere. Next up: An out-of-the world assignment! Stay tuned." In a statement, Infosys CEO Vishal Sikka said: "Sandeep has played a key role in the success of Infosys over his career and in our transformation journey these past three years. We wish him the best in the journey ahead."

Terming Mr Dadlani's exit as "temporary hiccup", domestic brokerage Edelweiss in a report said: "The exit comes as a surprise as Mr. Dadlani had been recently handed additional responsibility of generating more business from the company's new software solutions, including the AI platform Nia. We believe induction of several high profile executives over the past will help the company seamlessly fill the void."

Edelweiss has a "buy" rating on Infosys shares. "We reiterate that Infosys, equipped with ample margin levers, will outpace peers on the earnings growth front. Maintain 'BUY' with target price of Rs 1,173," the brokerage said in the report.

Mr Dadlani was also the global head for manufacturing, retail, CPG (consumer packaged goods) and logistics verticals at Infosys. According to Mr Sandeep's profile on Infosys website, he handled "portfolio P&L of approximately $2.5 billion globally, helping over 300 clients across the world to embrace digital technologies".

Bengaluru-headquartered Infosys on Friday announced the appointment of Karmesh Vaswani as the global head-retail, CPG & logistics (RCL) and Nitesh Banga as the global head of manufacturing. Karmesh Vaswani and Nitesh Banga are both career Infoscions who have held strategic portfolios across the organization for nearly a decade.

Separately, Infosys on Friday also announced the appointment of former Wipro executive Inderpreet Sawhney as its group general counsel. The appointment is effective July 3, 2017, Infosys said. She replaces Gopi Krishnan Radhakrishnan, who will be leaving the company later to pursue other opportunities.

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