Infosys Ltd (500209) names former SAP exec Vishal Sikka as CEO

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Infosys Ltd (BOM:500209) has named Vishal Sikka as CEO. Sikka used to be a former executive at SAP. Sikka will be replacing S.D. Shibulal on August 1st. This is the first time that Infosys will have a non-founder as CEO. Sikka will also be inducted as a director of the board, CEO, and managing director on June 14th.

 

Infosys co-founder N.R. Narayana Murthy returned as chairman last year to help revive revenue growth at the company and reshuffle top management. Sikka will be in charge of getting contracts, especially in the mobile and cloud computing space. Infosys is aiming to increase business from new and existing clients, enhance its solutions, and expand geographically.

“Computing technology is reshaping every industry across every walk of life,” said Sikka in a statement. “We, at Infosys, have a unique opportunity to deliver breakthrough solutions that will bring greater value to our clients, employees, investors and other stakeholders.”

On April 15th, Infosys forecasted full-year sales will climb 7-9% in U.S. dollar terms, which exceeds the 6-8.3% average that six analysts at Bloomberg expected. Infosys posted a 25% jump in Q4 profit.

Infosys was founded in 1981 and signed its first customer in the U.S. later that year. Since then, four different founders worked as CEO. Sikka was the chief technology officer at SAP, but resigned in May. At that time, it was announced that Sikka left for personal reasons. Murthy and S. Gopalakrishnan will step down as executive chairman and executive vice chairman, respectively on June 14.

[Source: Bloomberg]

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