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The CEO of one of India’s biggest outsourcing firms has resigned after months of tensions between the company’s leadership and its founders.
Infosys (INFY) said CEO Vishal Sikka is stepping down “effective immediately.”
The tech company’s shares plunged more than 7% in Mumbai following the announcement.
“Over the last many months and quarters, we have all been besieged by false, baseless, malicious and increasingly personal attacks,” Sikka wrote in his resignation letter, which was released by the company.
Sikka said the allegations against him and other top executives were “repeatedly proven false and baseless” through independent investigations.
“But despite this, the attacks continue, and worse still, amplified by the very people from whom we all expected the most steadfast support in this great transformation,” he said.
That appeared to be a reference to some of Infosys’ founders, who have publicly criticized the company over issues including executive pay.
COO Pravin Rao will step in as interim CEO while Infosys looks for a permanent replacement. Sikka will remain with the company as an executive vice chairman on an annual salary of $1, it said.
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