Infosys Executive VP Ritika Suri Quits

Infosys executive vice-president Ritika Suri, who was focused on getting large deals, has quit in a setback to Chief Executive Officer Vishal Sikka, who needs huge contracts to get the company to grow faster than the industry average.

This is the second big exit at Infosys after Sandeep Dadlani, who headed the crucial Americas market, which generates two-thirds of revenues for the software exporter. 

Sikka, who is based out of the United States (US), has moved chief financial officer M D Ranganath to the US, to assist him in the transition in his attempt to convert Infosys into a software and services firm.

Since Sikka took over around three years ago, Infosys has lost ten key executives, indicating the challenge for the first non-founder CEO in retaining top level talent in an uncertain environment. 

Infosys and its Indian peers are struggling to grow business due to technology shifts towards digital and cloud, pressure on traditional IT services business and growing protectionism in their main markets such as the US and the United Kingdom.

Ritika Suri’s resignation was first reported by the Live Mint. 

Suri, who earlier looked at mergers and acquisitions (M&As), was involved in the acquisition of Israeli digital technology firm Panaya. The deal had raised eyebrows, including allegations that Infosys overpaid for the deal, but an independent forensic investigation by Gibson Dunn & Crutcher last month gave a clean chit to the deal.  

Suri, a former SAP executive, who was brought in by Sikka himself in September 2014,  was elevated as the executive vice-president last year. Suri’s was given the responsibility to handle large deals from her earlier role of overseeing M&As.

In 2016, such big exits included Gordon Muehl, head of industrial internet business, Michael Reh, head of EdgeVerve and David Kennedy, chief legal officer.  

Former Infosys executives, however, say Suri’s resignation within a month after the clean chit by the external investigation on Panaya was surprising.

“Even if the company and chief executive Sikka received a clean chit from from US law firm Gibson Dunn & Crutcher on allegations over Panaya deal, Suri’s resignation within a month after the investigation report submitted appears surprising,” said a former Infosys executive requesting anonymity.

The person said he found it “unusual” of Infosys not releasing the entire report of the investigation carried out by Gibson Dunn & Crutcher and only shared a gist of it.  
“We do not comment on speculations related to appointments or exits of executives other than key management personnel,” said an Infosys spokesperson.

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