6:51 pm - Sunday November 15, 2015

Infosys shares fall as top executive quits

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MUMBAI: Shares of Infosys fell nearly 3% on Friday following the exit of its global head of strategic sales, marketing and alliances Prasad Thrikutam.

The stock of India’s second largest software services firm opened the day on a weak note and further lost 2.55 per cent to Rs 2,960.30 on the BSE. At the NSE, it fell by 2.65 per cent to Rs 2,960.35. The exit of Thrikutam, who was also the head of Infosys Americas, comes within a fortnight of the resignation of President and Board Member B G Srinivas as the company searches for a CEO to succeed S D Shibulal who is due to retire by January next year.
Interestingly, both Srinivas and Thrikutam worked with Infosys for 19 years.
This is the 11th top-level exit from the Bangalore-based company since the return of co-founder N R Narayana Murthy at the helm of affairs in June last year. The firm in a statement had yesterday said: “Prasad Thrikutam has decided to pursue interests outside of Infosys. In his 19-year journey with the company, he has managed many portfolios including Hi-Tech Discrete Manufacturing Unit, Energy, Utilities & Services and most recently served at the Global Head of Strategic Sales, Marketing and Alliances.”

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