Difficult for board to consider a permanent position for Murthy: Infosys Co-chairman

Sikka has been appointed executive vice chairman effective on August 18.

Former Infosys CEO Vishal Sikka said he would continue as executive vice chairman to help in transition and UB Pravin Rao will continue as interim CEO of the company.

In a press conference held after the formal announcement of resignation, Sikka said: '' In many ways, it is a sad day, but in many ways, it might help things.''

About the difficulties he faced, he said that he faced difficulty in dealing with continuous allegations. ''What was difficult to deal with was continuous allegations and continuous noise around the same thing.''

''At a point you realize it's taking a heavy toll on the organisation and personally, so I felt it's an untenable situation,'' he added.

Meanwhile, Co-chairman, Ravi Venkatesan categorically said that he is not in 'contention for CEO position'.

Venkatesan said: ''I have no interest in being the next CEO, not in contention for the position.''

At the outset, he said: ''With incredible sadness have accepted the resignation of Vishal Sikka and fully understand his reasons''.

No doubt that Vishal Sikka is a phenomenal guy, the world knows it. He has blossomed as a leader, '' he added.

When asked if N Murthy would be considered for an active role, Venkatesan, said: '' The events that have transpired in the last 48 hours have made it difficult for the board to consider a permanent position for Narayana Murthy.''

Infosys lashed out at fresh charges by founder NR Narayana Murthy, saying suggestions that world-renowned law firms will "connive" with the board twice to overlook alleged "misdeeds" of a CEO and give a clean chit were "completely untenable".

Chairman R Seshasayee rubbished the claims saying that probe had been conducted by world renowned firms. "... to suggest that world renowned law and forensic firms will connive with the board, not once but twice...and overlook something which is a misdeed and submit a clean report, to our mind, is completely untenable."

He added that board did all it could to look into whistle blower complaints of corporate governance lapses, particularly those related to acquisition of Panaya. "It is the job of the board (Infosys) to enquire and make sure that there is indeed no such misdeed. And that is precisely what the board did," he said.

In a press release issued earlier, Infosys said that Sikka has been appointed executive vice chairman effective on August 18, and will hold office until the new permanent Chief Executive Officer and Managing Director takes charge, which should be no later than March 31, 2018. Sikka will continue to focus on strategic initiatives, key customer relationships and technology development. He will report to the Company's Board.

UB Pravin Rao is the chief operating officer and responsible for the entire portfolio of the company's offerings. He oversees the key functions of global sales, global delivery, and business enabling functions.

(With agency inputs)