Infosys was rocked by boardroom battles that led to the dramatic exit of its first non-promoter Chief Executive, Vishal Sikka, in August and return of co-founder Nandan Nilekani as Chairman to steer it out of troubled times.
IT major Infosys on Saturday appointed Sasil S. Parekh as its Chief Executive Officer and Managing Director with effect from January 2, 2018, a regulatory filing by the company said here on Saturday.
As of October 2017, Nandan Nilekani's net worth stands at $1.71 billion, according to Forbes.
Balakrishnan agreed that the slowdown in hiring in the IT sector is going to persist.
The CAIT has also sought a third party audit into technical and other issues related to the GSTN portal.
'It has been a disappointing experience,' an official said referring to Infosys' slow response to issues affecting the GST Network.
India's second largest IT outsourcer Infosys suprised analysts posting a net profit of Rs 3,726 crore, an increase of 7 per cent sequentially.
The share buyback programme by Infosys is the first in its 36-year history.
Rajagopalan's resignation from Infosys comes in a string of top-level exits at the company after Vishal Sikka quit last month
Last month, Infosys had said that it would acquire Brilliant Basics for 7.5-million pounds (approx Rs 63 crore) in an all-cash deal
Unfazed by the recent upheavals at the board, Infosys will continue to hire about 6,000 engineers annually over next 1-2 years, same as last financial year
On August 29, CM Mamata Banerjee had said that Infosys would invest in the state without the SEZ status, which the company had sought.
The filing came a week after the $10-billion IT major's co-founder Nandan Nilekani returned as its non-executive Chairman on August 24.
Within hours of taking charge at the helm of Infosys, Nilekani got into damage control mode seeking to calm investors' nerves through an early morning conference call.
Technocrat Vishal Sikka termed his dramatic resignation as CEO of the global software major Infosys as one of the hardest decisions of his life
Infosys today named Nandan Nilekani as non-executive, non-independent Director and Chairman of the Board of Directors
Pai also said all the co-founders would collectively take a decision on the return of Nandan Nilekani, a co-founder and former CEO, to the Bengaluru-headquartered IT firm.
The 30-share Sensex gained 28.05 points, or 0.09 per cent to close at 31,596.06 after shuttling between 31,678.19 and 31,546.05.
As bankers, investors and former top executives bat for Nandan Nilekani's to lead Infosys, his return as non-executive chairman of the company is imminent.
Infosys founder Murthy will address and interact with the company's investors across the world this evening at 6:30 p.m. through a conference call.
Top News
Latest News
