Infosys vice president Chandrashekar Kakal resigns

Infosys vice president Chandrashekar Kakal resignsIT services giant Infosys continued to see high profile exits on Thursday, when its senior vice-president Chandrashekar Kakal announced his resignation.

The resignation of Mr.  Kakal, who was also a member of Infosys' top decision making body executive council, took the total tally of high profile exits to nine in the past nine months.

The company said in a statement that Mr.  Kakal had expressed his intention to resign on March 19, 2014, and that he would leave the company on April 18 this year.

Mr.  Kakal's resignation was not a surprise for the industry as only around a week ago Infosys Chairman N.  R.  Narayana Murthy had cautioned about the possibility of more exits from the company.

Cautioning about the likelihood of more exits, he had said, "Over the next few months, you will see some more exits ..  Barring a few exceptions, most people that left us were not adding critical value to the company."

Rumours about Mr.  Kakal's resignation had been swirling the Web ever since the company promoted B.  G.  Srinivas and U.  B.  Pravin Rao to the posts of presidents, despite him holding bigger responsibilities within the company.  Mr.  Kakal had joined the company in 1999.

Since Mr.  Murthy's return to the company, Infosys beat analysts' expectations in two successive quarters.  The company's stock jumped 37 per cent since June last year.

Infosys stock yesterday gained 1 per cent to close at Rs 3,303 a share on the Bombay Stock Exchange.