Infosys opened at approximately 1 percent lower

ADRs of Infosys came down by 3 percent

The decision came as a surprise

Nilanjan Roy stepped down as the Chief Financial Officer of Infosys after serving in the role for a period of 6 years. The reason provided for this is the “pursuance of personal aspirations.” “Due to personal reasons for exploring external growth opportunities, I would like to tender my resignation from the services of the company. I will serve out my notice period. I would like to thank you and the Board for the invaluable support during my tenure and wish Infosys the very best for the years ahead,” Roy wrote in his resignation letter.

Jayesh Sanghrajka would take over the CFO after the completion of Nilanjan’s term in 2024. “I am delighted to announce that Jayesh will take over as Chief Financial Officer. As Deputy CFO, he has been leading multiple portfolios in the finance function for several years now and his depth of experience and knowledge will serve us well to take the function to greater heights,” Salil Parekh, CEO & MD, Infosys stated in an exchange filing.

This led to a sharp reaction in the stock exchange market with Infosys opening at approximately 1 percent lower on December 12th. The American Depository Receipts (ADRs) of Infosys came down by 3 percent to 17.41 dollars. The decision came as a surprise and has hence had its bearing in the stock market. The exit was however not a result of the governance structure.