In a continuing spate of top-level exits at the country’s third largest IT exporter, Infosys, on Thursday, saw its ninth high-profile exit in the nine months since company co-founder N.R. Narayana Murthy returned at the helm.
On Thursday, Infosys informed the Bombay Stock Exchange about the resignation of Infosys Executive Council member and senior vice-president Chandra Shekar Kakal. In a corporate announcement to the BSE, which was also filed with the US SEC, the company declared that Mr. Kakal had “conveyed his intention to resign from the company, effective April 18, 2014.”
The exit is perhaps a part of what Mr. Murthy has been, in recent investor calls, terming as his attempt to bring “certain level of cost optimisation” in the company. This included cutting down those who “did not add value, despite drawing high salaries”, he had said.