Vishal Sikka’s exit: The $200-million transaction that rocked Infosys’ boat
PALO ALTO: The video cameras in the empty conference room on the US West Coast were on. As were the prying eyes in Bengaluru. In a few minutes, the live news feed would take the two subjects to thousands of TV viewers across India. Infosyschairman R Seshasayeewalked in first. It was 1.30 in the morning — never a time to face the world. His face possessed the sort of calm that comes after a hurricane has passed.
Some hours before, the stock markets and all stakeholders had been informed of Vishal Sikka’s decision to step down as chief executive. The stock dropped to a low of 13% on the Bombay Stock Exchange(BSE), and pared losses to close at 10%. That’s Rs 22,000 crore wiped off the market cap. Co-chair of the board Ravi Venkatesan later said: “The day has been like a blur.”
Credit: timesofindia.indiatimes.com