Infosys shares slump as BG Srinivas resigns

Infosys shares fell as much as 7.6 per cent in morning trade after president and board member B.G. Srinivas, seen by some investors as a candidate to take over as CEO, resigned.

The IT company on Wednesday did not give a reason for his resignation in its statement to the bourses.

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.

He is the latest senior manager to leave India's second-largest software services exporter.

(Reuters)