You are here: Home » Markets » News
Business Standard

Another high-profile exit at Infy; stock slips 1%

Ashok Vemuri, Americas head and global manufacturing chief, has resigned from the company.

SI Reporter  |  Mumbai 

Infosys is trading lower by around 1% at Rs 3,092 in otherwise firm market after Americas head and global manufacturing chief, Ashok Vemuri, resigned from the company.

The stock opened at Rs 3,070 and hit a low of Rs 3,061 on NSE. CNX IT index however, was up 0.03%, while the benchmark CNX Nifty up nearly 1% at 1114 hours.

“Ashok Vemuri, member of the board has conveyed his intention to resign from the services of the company. The board has accepted his resignation and has decided to relieve Mr. Vemuri from his responsibilities effective September 12, 2013,” Infosys said in a regulatory filing.

Vemuri, head of operations (Americas) and global head (manufacturing and engineering services), was said to be one of the contender for the chief executive’s position, along with board members V Balakrishnan and B G Srinivas, the Business Standard report suggests.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, August 29 2013. 11:20 IST