New Delhi Aug 18: A top leader has quit. Vishal Sikka the MD and CEO of Infosys has resigned.Currently the company is India's second largest IT services firm.
His resignation comes amidst the company planning to consider a proposal to buy back equity shares on Saturday. Infosys has announced that it would return up to Rs. 13,000 crore to shareholders by March 2018.
The company has said that "the board of directors of Infosys Limited has at its meeting today accepted the resignation of Dr. Vishal Sikka as the Managing Director and Chief Executive Officer of the company with immediate effect".
IT firm has appointed him as the Executive Vice-Chairman.U B Pravin, Infosys COO has been named as the Interim -MD, and CEO of the firm.