Infosys says another senior executive leaving

NEW DELHI Thu Mar 20, 2014 7:13pm IST

Employees of software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore September 4, 2012. REUTERS/Vivek Prakash/Files

Employees of software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore September 4, 2012.

Credit: Reuters/Vivek Prakash/Files

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NEW DELHI (Reuters) - A top executive at India's Infosys Ltd (INFY.NS) will leave the company next month, the No. 2 software exporter by revenue said on Thursday, adding to a spate of senior-level departures since co-founder Narayana Murthy returned to run the company.

Chandrashekar Kakal, a senior vice president and a member of the company's executive council, has conveyed his intention to quit, effective April 18, Infosys said in a filing to the stock exchanges. It did not give a reason for Kakal's resignation.

Murthy was brought back last June as executive chairman to revive the fortune of Infosys, which has suffered a string of disappointing earnings. However, his return has been followed by the departure of several senior executives including V. Balakrishnan, who had been tipped to become chief executive.

Infosys' revenue for the fiscal year ending March could grow at the lower end of its 11.5 to 12 percent projection, Murthy said this month, sending its shares down as much as 9 percent on a single day.

(Reporting by Devidutta Tripathy; Editing by Subhranshu Sahu)

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