Infosys shares down after appointment of Vishal Sikka as new CEO

Written by Reuters | Mumbai | Updated: Jun 12 2014, 16:14pm hrs
InfosysInfosys has named former SAP executive board member Vishal Sikka as CEO, the first time the company has not chosen one of its founders for the role.
Infosys Ltd shares fell more than 1 per cent after appointment of former SAP AG executive board member Vishal Sikka as Chief Executive Officer.

Infosys was trading 37.30 points down to 3,156.05 at 10.30 am. The company shares had opened at 3,280 from previous close of 3,193.35.

The Infosys stock was up 2.7 percent in pre-open trading, adding to a 6.9 per cent surge over the previous two sessions.

Sikka will take over on Aug. 1 from S.D. Shibulal, one of the engineers who founded Infosys, the company said in a statement to the stock exchanges.