Ending all speculations, Infosys, India’s second largest IT services company finally announced Vishal Sikka as the new CEO and MD. Sikka, a former CTO and member of executive board at enterprise software maker SAP, will take over from current Chief Executive S.D. Shibulal, on August 1, the company said in a statement to the stock exchanges. This is for the first time the company gets its non-founding CEO.
Infosys said in a release that Sikka will also be inducted as a whole-time director of the board – effective from June 14. The company also announced that Executive Chairman N.R. Narayana Murthy and Executive Vice Chairman S. Gopalakrishnan would step down on that day.
The company has promoted U B Pravin Rao, currently president and whole-time director, as the Chief Operating Officer and also announced the elevation of twelve senior leaders to the position of Executive Vice President with additional responsibilities.
The news of Sikka’s joining the IT company has put to rest the buzz surrounding the CEO-hunting mission of the IT bellwether – which in the process also witnessed a spate of high level exits over the past one year, including big names like BG Srinivas and Ashok Vemuri, since Narayan Murthy stepped into the scene after his retirement.
“I am pleased with the selection of Dr. Vishal Sikka as our new CEO. Vishal brings valuable experience as a leader of a large, global corporation. His illustrious track record and value system make him an ideal choice to lead Infosys,” said Executive Chairman, N R Narayana Murthy.
In the past two years, many saw Sikka as a contender for the job for SAP CEO. There were also reports about Sikka meeting Infosys board members as well as the company hiring executive search firm Egon Zehnder to shortlist external candidates added to the speculation.
With Sikka’s appointment as CEO, many believe could raise the profile of Infosys among global corporations and lead to greater success of the company. Sikka’s entry also created record for Infosys to have appointed its first non-founder CEO from an external source. As many believe choosing a CEO from an external source would bring greater benefits to the company
