Infosys tumbles 6.1%; co-president quits

Infosys has lost yet another senior executive. The blue-chip company's president and board member, B.G. Srinivas, resigned on Wednesday. Infosys is trading down 6.1% at Rs. 2978 on BSE in the early morning trade today. The stock is trading at eight-month low, while CNX IT is below 200-DMA. Infosys has lost yet another senior executive. The blue-chip company's president and board member, B.G. Srinivas, resigned on Wednesday. "The resignation will be effective June 10," the software major said in a statement. Narayana Murthy, Executive Chairman said, "B. G. Srinivas has been an integral part of Infosys and has played an important role in the Company's growth. The Board and every lnfoscion thanks B. G. Srinivas for his wonderful contribution and wish him great success in his future endeavors." S. D. Shibulal, Chief Executive Officer and Managing Director said, "During his tenure at Infosys, B. G. Srinivas played a pivotal role in building the Enterprise Solutions Unit, strengthening our business in Europe and driving growth in key business verticals. I would like to wish him the very best." B. G. Srinivas said, "I thank Infosys for the wonderful opportunity given to me. My tenure at Infosys has been one of my most rewarding experiences, and I am proud to have contributed to the best growth story in the industry. I wish the Board and Infosys the best of success in the future."