Infosys resignations continue; senior VP Sanjay Rajagopalan walks out saying he is a 'free man'
Rajagopalan is the latest addition to the list of senior Infosys functionaries jumping ship, something which began after company's former CEO Vishal Sikka put in his papers last month.
- Sep 18, 2017,
- Updated Sep 18, 2017 3:26 PM IST
Sanjay Rajagopalan stepped down as the senior vice president of Infosys today. He was in charge of the design and research wing of the company for over three years. A close and a former colleague Vishal Sikka, Rajagopalan called himself a 'free man' on his LinkedIn profile, as Infosys shares fell earlier today.
Infosys shares came down from Rs 917.95 to the day's low of Rs 908.60 around 9:30 am, following Rajagopalan's resignation. They, however, recovered sometime later, improving by 0.73 per cent to reach Rs 915.2 around 11:00 am, according to data by Bombay Stock Exchange.
Rajagopalan is the latest addition to the list of senior Infosys functionaries jumping ship, something which began after company's former CEO Vishal Sikka put in his papers last month. It was being speculated that he will leave the company sooner than later. Infosys refused to comment on the resignation.
Vishal Sikka had resigned as the CEO of Infosys after a longstanding spat with company's founders, especially Narayana Murthy, over corporate governance issues and misconduct.
It will be the first time in many years that the iconic Indian software firm will not be among the first ones to announce its Q2 earnings in the first week of September. The company has not given any reason for the delay in the scheduled date of earnings. Infosys had given October 13, 2017 as the tentative date for announcing the financial results for the September quarter in its earnings release for the first quarter.
Meanwhile, the Bengaluru-based IT company posted 3.3 per cent sequential drop in net profit at Rs 3,483 crore during the course of Q1 which ended on June 30, 2017. Infosys had said that its net sales grew by 3.2 per cent sequentially to end at $2,651 million dollars.
Sanjay Rajagopalan stepped down as the senior vice president of Infosys today. He was in charge of the design and research wing of the company for over three years. A close and a former colleague Vishal Sikka, Rajagopalan called himself a 'free man' on his LinkedIn profile, as Infosys shares fell earlier today.
Infosys shares came down from Rs 917.95 to the day's low of Rs 908.60 around 9:30 am, following Rajagopalan's resignation. They, however, recovered sometime later, improving by 0.73 per cent to reach Rs 915.2 around 11:00 am, according to data by Bombay Stock Exchange.
Rajagopalan is the latest addition to the list of senior Infosys functionaries jumping ship, something which began after company's former CEO Vishal Sikka put in his papers last month. It was being speculated that he will leave the company sooner than later. Infosys refused to comment on the resignation.
Vishal Sikka had resigned as the CEO of Infosys after a longstanding spat with company's founders, especially Narayana Murthy, over corporate governance issues and misconduct.
It will be the first time in many years that the iconic Indian software firm will not be among the first ones to announce its Q2 earnings in the first week of September. The company has not given any reason for the delay in the scheduled date of earnings. Infosys had given October 13, 2017 as the tentative date for announcing the financial results for the September quarter in its earnings release for the first quarter.
Meanwhile, the Bengaluru-based IT company posted 3.3 per cent sequential drop in net profit at Rs 3,483 crore during the course of Q1 which ended on June 30, 2017. Infosys had said that its net sales grew by 3.2 per cent sequentially to end at $2,651 million dollars.