After Vishal Sikka resigned as the CEO and MD of Infosys, there were several exchanges between him, Narayana Murthy and the company board. In the meantime, UB Pravin Rao was appointed as the interim CEO. In a letter to stock exchanges, company secretary AGS Manikantha confirmed the development, saying the resignation was accepted at a board meeting on August 18. Sikka will now be the executive vice-chairman of the company. Meanwhile, the Board of directors of Infosys Ltd has squarely blamed founder NR Narayana Murthy for forcing the exit of MD and CEO Vishal Sikka from his post, a little over three years after he assumed the role. The Board, which has been at the centre of criticism for non-governance by Narayana Murthy, in a statement on Friday said that “Mr Murthy’s continuous assault is the primary reason that the CEO, Dr Vishal Sikka, has resigned despite strong Board support”. Ever since Sikka’s resignation a lot of letters have been exchanged between the company and media. Here are the 5 letters which got circulated throughout the day.
Letter 1: Vishal Sikka resignation letter
Vishal Sikka gave his resignation letter today. As of now, Sikka has been appointed as Executive Vice-Chairman. His resignation came barely three years after he was appointed. Read the full text of his resignation letter here.
Letter 2: Vishal Sikka’s letter to employees
After his resignation, Vishal Sikka wrote a letter to Infy employees. Minutes after the news of his resignation floated, the former CEO took his social media account and shared a post saying, “Moving on…” along with a link that included his farewell address to his employees. Here is the mail Sikka sent to the company employees.
Watch our analysis of Vishal Sikka’s resignation and its impact on Infosys shares:
Letter 3: Infosys Board’s reply to Vishal Sikka’s resignation
Infosys board accepted the notice of resignation of Sikka. While, Sikka cited his reasons for leaving as a continuous stream of distractions and disruptions over the recent months and quarters, increasingly personal and negative as of late, as preventing management’s ability to accelerate the company’s transformation, a statement from Infosys board reads as this.
Letter 4: Narayana Murthy (First Letter)
Infosys board alleged that a letter authored by Murthy, released to various media houses, has been the primary reason for Sikka’s exit. “Murthy’s continuous assault, including this latest letter, is the primary reason that the CEO, Dr. Vishal Sikka, has resigned despite strong board support,” Infosys said in a statement. Read the story here.
Letter 5: Narayana Murthy (Second Letter)
Narayana Murthy blasted the Infosys board with a second letter bomb after Vishal Sikka resigned. In the letter, he said that he does not want the board to drive the company to death. Read the story here.