Some of the founders and high-profile former executives associated with Infosys have been calling for share buyback for quite some time now so that the surplus capital with the company could be returned to shareholders.

Murthy said there is no need to give advice to Nilekani on finding and appointing new CEO for Infosys as he had done well during his stint as the CEO of the IT company.

Nilekani, a co-founder, is the right person who can restore the company's waning credibility among the investor community. Infosys is badly bruised by allegations of multiple slips in corporate governance - unthinkable till a few years ago.

EMC has asked for a provision in the merger agreement that will allow it to solicit bids from other parties and pay a discounted breakup fee to Dell if there is a deal with another company.

Paul Hermelin, chairman and CEO of Capgemini, said the firm would like to thank Ashok Vemuri \"for his active participation to the acquisition process and his remarkable energy in the transition phase\".

The US-based firm sold off its domestic infrastructure management services (IMS) operations to MindSquare Technologies for about $5 million.

On Monday, the French IT services company had said it would buy IGATE for $4 billion in an all-cash deal.

Capgemini said it had the backing of shareholders representing 54 per cent of IGATE's share capital for the deal, and that it would enhance earnings immediately.

The company had posted a net profit of $33.1 million in the year-ago period, it said in a statement.

IGATE had reported a net profit of $3.1 million in April-June of 2014, which was after a one-time hit of $51.8 million arising from extinguishment of debt.

Consolidated revenues rose by 10 per cent to $311.7 million in the April-June quarter of 2014 fiscal against $283.3 million in the same quarter last fiscal.

Sikka's total compensation package of $7.08 million, including stock options, compares to $18 million Microsoft pays to its chief executive, $16.2 million IBM CEO gets and $14.4 million Citibank CEO receives.

Vishal Sikka inherits an Infosys where Narayana Murthy has cut costs and increased margins. He also has to deal with the rampant loss of top talent and the heartburn caused by an Executive Assistant's overarching role.

In the first top-level exit at Infosys after Vishal Sikka was named as its CEO, K Murali Krishna, Senior Vice President and Group Head of computers and communications division, has resigned.

Addressing shareholders for the last time as Executive Chairman, Murthy , who earlier this week announced that he along with his son Rohan have decided to step down full four years ahead of their term, said his \"work was done\" and hoped that the new CEO Vishal Sikka would chart a new course without any interference from founders.

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\"...Please rest assured that the leadership changes take into account the best interest of the company as a whole,\" the Infosys Executive Chairman said in a letter to the employees.

Infosys has said the resignation of Srinivas as president and board member will be effective June 10. Srinivas joins PCCW Ltd as Group Managing Director on June 14.

Srinivas, who joined in 1999, will remain in his role until June 10. He was appointed President at the board of the company on January 3, 2014. Earlier, Srinivas was heading financial services business at the company.

This is the third Infosys CEO hopeful to quit after Chairman Narayana Murthy's return to the company - Ashok Vemuri and V. Balakrishnan being the other two.