Vishal Sikka resigns: T V Mohandas Pai on Friday lashed out at Vishal Sikka who has resigned as Managing Director and Chief Executive Officer of Infosys this morning. Talking to BTVI, Pai stressed that Sikka was paying the price for all the mistakes he had made. Pai has claimed that Sikka has not taken care of the entire company and he has not spent enough time in India talking to people. Pai further said that Sikka had isolated himself and has not done things that a CEO should do. Pai, however, has lauded Sikka for taking good decisions and several initiatives in first two years of three-year tenure. In last one year, nothing much has been done, Pai said. Pai is the former HR head and ex-Chief Financial Officer of Infosys. Talking about the reported rift between Sikka and Infosys co-founder N R Narayana Murthy, Pai said Murthy never said anything against Sikka. Murthy had expressed his views on governance, Pai said. He also opined that Murthy should become the Chairman Emeritus to stabilize the situation.
Sikka took over as CEO and MD from SD.Shibulal on August 1, 2014. In his resignation letter, Sikka said: “Over the last many months and quarters, we have all been besieged by false, baseless, malicious and increasingly personal attacks. This continuous drumbeat of distractions and negativity … inhibits our ability to make positive change and stay focused on value creation.”.
WATCH- Here is what Mohandas Pai said about Vishal Sikka’s resignation
— BTVI Live (@BTVI) August 18, 2017
The founders of Infosys, who still own 12.75 percent of Infosys, have in the past questioned a pay rise granted to Sikka and Rao as well as the size of severance payouts given to others, including the company’s former finance head Rajiv Bansal, according to Reuters.
Meanwhile, the BSE benchmark Sensex fell nearly 208 points and Infosys tanked over 7 per cent in early trade after Sikka’s resignation.