Infosys shares dip as Vemuri quits

Business

oi-Sunil

By Sunil Fernandes

Published: Thursday, August 29, 2013, 10:08 [IST]

Shares in Infosys declined after the company said that Ashok Vemuri, has quit the company. Shares in the company were down 0.5 per cent 10.00 am and was last trading at Rs 3103 on the National Stock Exchange. Vemuri was a board member and head of its Americas business.

"We would like to thank Ashok Vemuri for his significant contributions to Infosys. The transition plan is in place. Sanjay Jalona, currently the Regional Head for Manufacturing in North America, will take over as the Global Head of Manufacturing," the company said in a statement.

Infosys has seen several high profile executives quit the company in the last few weeks. It maybe recalled that N R Narayanamurthy assumed charge as the Chairman once again after having come out from retirement, following a set of poor quarterly numbers by Infosys.

The Infosys stock has touched a 52-week high this month on hopes that its performance would see remarkable improvement following the appointment of of Narayanamurthy and also on the back of a robust recovery in the US.

A falling rupee has also raised bullish bets on the Infosys stock.

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