Infosys Shares Nosedive As MD & CEO Vishal Sikka Resigns Today

Shares of the India’s second largest information technology services company Infosys plunged as much as 7% on Friday after company’s CEO and MD Vishal Sikka resigned from the post today. Sikkha resigned barely three years after he was appointed as the CEO. Sikka, however, has been appointed as Executive Vice Chairman of the IT consulting major. The stock of the IT company fell tumbled 7.62% to the day’s low of Rs 943. While the shares were among the top gainers yesterday after the share repurchase proposal which is scheduled for tomorrow at the board meeting.
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