Shares in Infosys reacted to the appointment of Nandan Nilekani as Chairman of the Board, with the stock jumping 4 per cent in early morning trade. There has been some revival in the stock of Infosys, which lost as much as 10 per cent, after Sikka announced his resignation as the CEO of the company.
Vishal Sikka has stepped down as the CEO of the company 10-days ago, following a stand-off between the board and some of the founders of the company.
A major job for the new chairman would now be the appointment of a new CEO and re-constituting the present board. However, the real challenge for the Chairman would now be to evolve stratgies to counter the challenging business environment in which it operates.