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Vishal Sikka will not receive any severance pay upon his exit from the company’s helm, since he resigned on his own. Some people read into the contract more than the contract ever said, Seshasayee said, adding that Sikka is "not a guy motivated by phenomenal sums of money".
Sikka will now receive $1 for his role as Infosys' executive vice chairman.
Me stepping down or Ravi (Venkatesan) stepping down won’t solve the problem. We will continue to do our job.R Seshasayee, Chairman, Infosys
Sikka’s move to executive vice chairman from chief executive officer will make no difference to his commitment to the company, said Chairman Ramaswami Seshasayee at the press conference.
Also Read: In Charts: Infosys Under Vishal Sikka
Board members of the IT giant are currently addressing the media through a press conference in Bengaluru. Executive Vice Chairman Vishal Sikka and interim CEO & MD Pravin Rao have joined in through a video call.
The board has accepted Vishal Sikka’s resignation with great sadness, Ravi Venkatesan reiterated. Pravin rao will now report to Sikka is the interim leader.
Speaking about the board, Sikka said that everyone asked him to reconsider his decisions. He further denounced some stories doing the round in media, calling them “completely nonsensical”.
Also Read: Vishal Sikka Blogs On His Resignation
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