- 12 Oct 2022
- ICICIdirect Research
Infosys announces resignation of KMPINFY - 1428 Change: 44.40 (3.21 %)
Infosys informed the stock exchanges that Ravi Kumar S, President and KMP of the company resigned today. The resignation is effective from October 11, 2022.
Ravi Kumar S, had been with Infosys from November 8, 2002 and had been appointed as President in 2016. In his last role at Infosys, he was responsible for driving digital transformation, engineering, data & analytics, etc, for the company (subset of 56% of digital revenue for Infosys, exact breakup is unknown). The exact reason for the sudden exit of Mr Ravi could not be ascertained. However, in our view, the stock may see a negative reaction tomorrow. We also believe the exit would act as a major overhang on the stock price till the announcement of any credible replacement. We also cannot rule out some near-term headwinds in terms of delay in digital transformation programs.