Infosys takes a 5% hit with CEO Vishal Sikka’s resignation
DSIJ Intelligence / 18 Aug 2017
The plan for appointing a replacement to the position vacated by Sikka has been rolled out, the company said in a filing to the bourses on Friday.
With the resignation of Infosys’ Managing Director and Chief Executive Officer Vishal Sikka, the shares of Infosys dropped by over 5% intraday during the early hours of trade on Friday. The company’s board has appointed Sikka as the Executive Vice Chairman and U B Pravin Rao as the Interim Managing Director and Chief Executive Officer.
The plan for appointing a replacement to the position vacated by Sikka has been rolled out, the company said in a filing to the bourses on Friday. Meanwhile, the stock was trading lower by 5.19% at Rs 968 per share on the BSE at 0928 hours. It opened at Rs 1,021.50 per share and attracted a total traded volume of 69,16,599 shares and traded value of Rs 67,205.13 lakhs on the NSE at 0929 hours.
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