Infosys shares plunge more than 7 pct after CEO contender BG Srinivas' exit

May 29 2014, 10:19 IST
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Shares in Infosys Ltd fell after president and board member B.G. Srinivas resigned. Shares in Infosys Ltd fell after president and board member B.G. Srinivas resigned.
SummaryInfosys board member BG Srinivas' resignation becomes 10th high-profile exit at IT bellwether.

Shares in Infosys fell as much as 7.6 percent in early morning trade after president and board member BG Srinivas, seen by some investors as a candidate to take over as CEO, resigned.

Infosys did not give a reason for his resignation in its statement to India's stock exchanges.

Srinivas, who joined in 1999, will remain in his role until June 10. He is the latest senior manager to leave India's second-largest software services exporter.

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