Fri, Aug 25, 2017
Among the issues red flagged by the promoters, especially N.R. Narayana Murthy were erosion in corporate governance, huge salaries to top executives, costly acquisition (Panaya) and a large severance package to an ex-CFO.
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Thu, Aug 24, 2017
Many reports have stated that Nandan Nilekani the former CEO of Infosys may return back after Vishal Sikka's resignation from his MD and CEO post on August 18, 2017.
Mon, Aug 21, 2017
Vishal Sikka, CEO and MD, Infosys' resignation has sent shivers down investors' spine as the stock lost nearly Rs 27,000 crore in value. Moreover, a Rs 13,000 crore first-time-ever share buyback has so far failed to cheer sentiments as the stock continued to lose value on Monday August 21, 2017.
Sat, Aug 19, 2017
After Vishal Sikka, Managing Director and Chief Executive Officer, Infosys resigned from the post, the company on Saturday approved Rs 13,000 crore share buyback proposal.
Fri, Aug 18, 2017
Friday turned out be a dramatic day for Infosys Vishal Sikka resigned from his post of MD and CEO with immediate effect. This was not taken well by investors. Share price of Infosys touched a four-year low of Rs 884.40 per piece – a level which was last seen on August 21, 2014.
On August 17, Infosys share rose to as much as 5% after the company stated it will consider the share buyback proposal in its meeting to be held on August 19, 2017.
Infosys said that Murthy's continuous assault, including this latest letter, is the primary reason that the CEO, Vishal Sikka, has resigned despite strong Board support.
RESIGNATION EMAIL RECEIVED FROM THE VISHAL SIKKA, MD AND CEO BY THE BOARD OF DIRECTORS ON August 18, 2017.
At 0921 hours, Sensex was trading at 31,564.52 down 230.94 points or 0.73%, while Nifty 50 was trading at 9,841.55 below 63 points or 0.63%.
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