Infosys dips after another top-level exit

Stock down nearly 2% in an other otherwise robust market

IT major Infosys lost ground by nearly 2% to Rs 2,987 after yet another top-level exit. This time it was Prasad Thrikutam, global head of sales, marketing and strategic appliance. Thrikutam, was with Infosys for the past 19 years, was also heading Americas, the largest market for the Bangalore-based company.

This is the 11th leadership level exit since N R Narayana Murthy, co-founder, returned to the company as executive chairman, with a mandate to help it bring back from a period of slower growth and declining profitability. Thrikutam’s exit comes a week after B G Srinivas, president and one of the chief executive contenders quit to join a Hong Kong-based company.

The stock opened at Rs 3,009 and hit a low of Rs 2,960 thus far. A combined two lakh shares changed hands on both BSE and NSE.