If one wants to understand why Infosys Ltd's ( INFY ) shares are down over 7% in response to news Ceo Vishal Sikka is resigning, a good place to start would be the lengthy [email protected] interview he gave in March.
There, Sikka talked at length about his attempts to shake up Infosys' culture as the Indian IT outsourcing giant deals with intensifying competition and some big secular challenges.
He adds this "continuous drumbeat of distractions and negativity" has impacted his attempts to remake Infosys, and that "hundreds of hours" of his time have been recently devoted to dealing with it.
In a July letter to the board that Murthy released following Sikka's resignation, he raised perceived governance problems surrounding Infosys' $200 million 2015 purchase of Panaya, an Israeli provider of testing and quality-management tools for enterprise apps.
And while Infosys' headquarters remain in the Indian city of Bengaluru, Sikka and the company's "Office of the CEO" were stationed in Silicon Valley.
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