As was being speculated recently, Indian technology major Infosys announced Thursday Vishal Sikka will take over as CEO and MD of the company with effect from August 1.
Sikka, who was earlier on the executive board of SAP AG, will take over from SD Shibulal, and said he was humbled to be leading an "iconic pioneer" in the IT industry. The company also announced a host of other top-level changes: founder NR Narayana Murthy, who returned from retirement to lead the company as executive chairman, will step down from June 14, and will be appointed Chairman-Emeritus.
On the news of Murthy stepping down as executive chairman, Balakrishnan said it was the right move as the new CEO would want to have his own executive team to implement his plans for the firm. Infosys shares were up about 1 percent in early Mumbai trading.
On June 12, 2014, at 11:10 hrs Infosys was quoting at Rs 3168.05, down Rs 10.7, or 0.34 percent. The 52-week high of the share was Rs 3847.20 and the 52-week low was Rs 2343.00. The company's trailing 12-month (TTM) EPS was at Rs 177.52 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 17.85. The latest book value of the company is Rs 733.03 per share. At current value, the price-to-book value of the company is 4.32.
Sikka, who was earlier on the executive board of SAP AG, will take over from SD Shibulal, and said he was humbled to be leading an "iconic pioneer" in the IT industry. The company also announced a host of other top-level changes: founder NR Narayana Murthy, who returned from retirement to lead the company as executive chairman, will step down from June 14, and will be appointed Chairman-Emeritus.
On the news of Murthy stepping down as executive chairman, Balakrishnan said it was the right move as the new CEO would want to have his own executive team to implement his plans for the firm. Infosys shares were up about 1 percent in early Mumbai trading.
On June 12, 2014, at 11:10 hrs Infosys was quoting at Rs 3168.05, down Rs 10.7, or 0.34 percent. The 52-week high of the share was Rs 3847.20 and the 52-week low was Rs 2343.00. The company's trailing 12-month (TTM) EPS was at Rs 177.52 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 17.85. The latest book value of the company is Rs 733.03 per share. At current value, the price-to-book value of the company is 4.32.
No comments:
Post a Comment