Infosys Americas Head Vemuri Resigns as Demand Recovers in U.S.Kartikay Mehrotra
Infosys Ltd., India’s second-largest software services exporter, said Ashok Vemuri has resigned from the company, the board and as head of Americas and global manufacturing services.
Sanjay Jalona, currently overseeing manufacturing in North America, will take the role of global head of manufacturing, the Bangalore-based company said in a stock exchange filing today. No replacement was named for the U.S. operations.
Vemuri’s departure after a 15-year stint comes amid signs of a recovery in information technology services demand in the U.S., the company’s largest market. Strong bookings data from International Business Machines Corp. and comments from offshore companies point to increased spending in consulting and discretionary work in the second half, according to Anurag Rana, an analyst at Bloomberg Industries.
“It’s a big loss for the company,” Hardik Shah, an analyst with KR Choksey Shares & Securities Pvt. in Mumbai, said by phone referring to Vemuri’s resignation. “He had been with them for 15 years, such a person can’t be easily replaced.”
Two calls to a number listed for Vemuri in New Jersey weren’t answered.
Infosys rose 2 percent to 3,116.25 rupees at the close in Mumbai trading, before the company’s announcement. The stock has surged 34 percent this year, making it the third-best performer on the 30-company S&P BSE Sensex Index. The benchmark has declined 7.4 percent in the period.