IT company HCL Infosystems today said its Managing Director and CEO Harshavardhan Madhav Chitale has resigned from the company.
He will remain with the company till this month-end and Director and Executive Vice-Chairman of HCL Infosystems Premkumar Seshadri will take charge as MD, the company informed stock exchanges.
“Harshavardhan Madhav Chitale has resigned as Managing Director & CEO and as Director of the company with effect from close of business hours on December 31, 2014. The Board has in its meeting held on December 8, 2014, approved his resignation,” the regulatory filing said.
Premkumar Seshadri, the Director and Executive Vice-Chairman has been appointed as Managing Director of the Company w.e.f. January 1, 2015, it said.
His designation will be ‘Executive Vice-Chairman & Managing Director’, the company said.
Shares of the company were trading at Rs 58.65, down by 9.49 per cent, on BSE.