Vishal Sikka Resignation

"My seven years on the board have been exciting, rewarding and eventful," said Ravi Venkatesan.

The Bengaluru-based company had set a deadline of March 2018 to fill the top vacancy following the abrupt resignation of former CEO Vishal Sikka in August after a spate of allegations pertaining to governance issues by co-founder N R Narayana Murthy.

Infosys stock, which dropped 14 percent after Vishal Sikka resigned, is up almost 7 percent since then.

Vishal Sikka had brought some of his former SAP colleagues to Infosys to help him implement his new initiatives.

Dr Vishal Sikkas wife announces her resignation on Twitter.

The buzz of return of co-founder and former CEO Nandan Nilekani helped the stock gain some stability in the past few sessions.

A year-long stand-off between the founders and the management culminated in the sudden resignation of CEO Vishal Sikka on August 18.

Vishal Sikka's resignation as CEO last week escalated the tensions between the founders and the management of India's second largest software company. He was then named Vice-Chairman.

Though the company's Board accepted Vishal Sikka's resignation and appointed him as Executive Vice-Chairman till the new CEO takes over by March 31, 2018, he resigned on Thursday night from the post.

The group installed co-founder Nandan Nilekani, 62, as chairman and forced the exit of Chairman R Seshasayee along with three other directors, the company said Thursday in a statement.

The appointment of Nandan Nilekani comes days after Vishal Sikka resigned, saying he was unable to serve as chief executive amid a "continuous assault" by founder Narayana Murthy.

A group of Infosys Ltd. founders, led by N R Narayana Murthy, is marshaling support from investors to take back control of the technology company by replacing several board members, according to people familiar with the matter.

Nandan Nilekani, who was CEO of the company between 2002 and 2007, has so far refused to comment on the crisis Infosys is facing after Vishal Sikka last week abruptly resigned as chief executive citing slander by promoters.

V Balakrishnan has said that given the current situation, the Infosys board should consider getting Nandan Nilekani at the helm and asserted that the current chairman and co-chairman need to step down.

A sharp fall in Infosys shares has wiped out Rs 34,000 crore of investors' wealth in just two days.

"My seven years on the board have been exciting, rewarding and eventful," said Ravi Venkatesan.

The Bengaluru-based company had set a deadline of March 2018 to fill the top vacancy following the abrupt resignation of former CEO Vishal Sikka in August after a spate of allegations pertaining to governance issues by co-founder N R Narayana Murthy.

Infosys stock, which dropped 14 percent after Vishal Sikka resigned, is up almost 7 percent since then.

Vishal Sikka had brought some of his former SAP colleagues to Infosys to help him implement his new initiatives.

Dr Vishal Sikkas wife announces her resignation on Twitter.

The buzz of return of co-founder and former CEO Nandan Nilekani helped the stock gain some stability in the past few sessions.

A year-long stand-off between the founders and the management culminated in the sudden resignation of CEO Vishal Sikka on August 18.

Vishal Sikka's resignation as CEO last week escalated the tensions between the founders and the management of India's second largest software company. He was then named Vice-Chairman.

Though the company's Board accepted Vishal Sikka's resignation and appointed him as Executive Vice-Chairman till the new CEO takes over by March 31, 2018, he resigned on Thursday night from the post.

The group installed co-founder Nandan Nilekani, 62, as chairman and forced the exit of Chairman R Seshasayee along with three other directors, the company said Thursday in a statement.

The appointment of Nandan Nilekani comes days after Vishal Sikka resigned, saying he was unable to serve as chief executive amid a "continuous assault" by founder Narayana Murthy.

A group of Infosys Ltd. founders, led by N R Narayana Murthy, is marshaling support from investors to take back control of the technology company by replacing several board members, according to people familiar with the matter.

Nandan Nilekani, who was CEO of the company between 2002 and 2007, has so far refused to comment on the crisis Infosys is facing after Vishal Sikka last week abruptly resigned as chief executive citing slander by promoters.

V Balakrishnan has said that given the current situation, the Infosys board should consider getting Nandan Nilekani at the helm and asserted that the current chairman and co-chairman need to step down.

A sharp fall in Infosys shares has wiped out Rs 34,000 crore of investors' wealth in just two days.