Infosys cracks 2.5 per cent as another top management executive resigns

MUMBAI: The exit of yet another top management executive at Infosys has turned sentiment bearish on the counter. The stock corrected 2.55 per cent in intraday trade today as Prasad Thrikutam, the global head for sales and marketing at Infosys, quit on Thursday.

The exit comes at a time when Infosys is running an evaluation process to appoint its first non-founder CEO.

Thrikutam, who was also the head of Americas for Infosys was previous the global head of energy, utilities and communications. people familiar with the development told ET NOW that his exit had been anticipated for a while now, ever since he was moved from a business to a non-business function.

According to an Infosys official the senior management exits were unfortunate, it opened up opportunities for the next layer of leaders.

A report released by analysts at Kotak earlier this week said Infosys may not be able to meet its revenue guidance because of "an inefficiently-handled CEO selection process and high churn at the senior management level." Kotak said uncertainty and exits could impact near-term growth and delay turnaround prospects.

Meanwhile, Infosys is sending its top executives to delivery centers across the country to address key points on the company's growth and future through town hall meetings with employees in an attempt to assuage concerns among staff over recent senior-management exits and the on-going CEO search.

In what appears to be a planned HR initiative, starting next week teams of three executives — a business segment head, delivery manager and head of the respective delivery center— will visit Infosys centers in Trivandrum, Mysore, Pune and other places to both send a message that all is well at the company and address employee concerns as Infosys faces criticism over its ability to retain top leaders.