Infosys CEO Vishal Sikka effects reshuffle in top ranks post disappointing after poor Q1
New Delhi: Infosys CEO Vishal Sikka seems to be moving quickly to fix things after the disappointing April-June earnings that sent its share price plummeting by 9 per cent on Friday. In an email addressed
New Delhi: Infosys CEO Vishal Sikka seems to be moving quickly to fix things after the disappointing April-June earnings that sent its share price plummeting by 9 per cent on Friday.
In an email addressed to Infosys employees, Sikka expressed disappointment and wrote, " I am disappointed. Disappointed that our revenue performance was not what we could have delivered, but even more so, that this overshadowed the many strong strides we made on executing our strategy."
The disappointment has resulted in a reshuffle in the company’s top deck, with Anup Uppadhayay, a veteran who served the company for 22 years, tendering his resignation. Upadhyay was appointed as Executive Vice President and Head of Strategic Sales Programme in May from the position of CEO of Infosys BPO.
Shares of Infosys were down nearly 9%. Infosys also scaled down its full-year revenue guidance to 10.5-12% in constant currency terms. In April Infosys forecast revenue growth of 11.8-13.8% in actual currency terms for the 2016-17 fiscal and by 11.5-13.5% in constant currency terms.
Sikka, who joined the company two years back, had brought about many changes to boost employee morale and the latest reorganisation of the top management is being viewed as another attempt in the same direction.
Besides the exit of Uppadhyay, there have been some other major changes effected in the roles to top executives. Ritika Suri, senior vice-president, corporate development and ventures, will take over the large deals work, which will include the strategic global sourcing programme.
Infosys veteran Anantha Radhakrishnan, who was the COO of the BPO business, has been appointed CEO.
Sudhir Jha, who was product lead for personalized ads policies at Google, has been brought in as SVP and head of product management and strategy at Infosys.