Infosys loses as management churns
Infosys is currently the top loser on the BSE, down over 6% at Rs.2976 and this is after hitting an intra day low at Rs.2935.
The stock is down after the company announced yesterday after market closure that its probable CEO, B G Srinivas, tendered in his resignation. He resigns w.e.f 10th June.
The murmurs in the corporate corridors is that Srinivas resigned because he now knew that he was not going to become the CEO, which in turn means that Infosys has already identified its news CEO. Many say, it could be an internal younger executive while some day that there are really no more leaders in Infosys and thus has probably decided on an external candidate.
Whatever be the internal reasons, the market is perturbed by this internal churn. Hopefully the churn is now coming to an end and we will soon get to know the name of the new CEO.