Infosys appoints Vishal Sikka as new CEO

Infosys has appointed former SAP AG top executive Vishal Sikka as Chief Executive Officer. It is for the first time the company has not selected one of its founders for the role, as it looks to recapture market share and control the high attrition rate of its staff.
With this, Infosys, India’s second-largest IT services Executive Chairman N.R. Narayana Murthy would step down, nearly a year after he was brought back from retirement to assist the firm better compete with rivals including Tata Consultancy Services and Wipro.  The company is still grappling with high staff exodus and management uncertainty, factors that led to loss of market share for a company that was once a dominated India’s $100-plus billion a year IT export business, and escalated investor pressure for a change of leadership.

Month: Current Affairs - June, 2014