'Vishal is one the world's leading experts in Artificial Intelligence and Machine Learning,' said Oracle chairman and CTO Larry Ellison, announcing Sikka's addition to the Board of Directors.
Sikka, 52, is among the world's leading experts in Artificial Intelligence (AI), Machine Learning and would be helping Oracle in the business value and adapt to change, the company said in a statement.
Cloud-based data and analytics firm Teradata has filed a complaint in a US court against German firm SAP alleging trade secret misappropriation, copyright infringement and antitrust violations and also named Sikka as being aware of the situation.
The Indian stock market had a healthy 2017, returning upto 29%.
In a statement late on Tuesday, Infosys co-founder Narayana Murthy said he stands by the questions he had raised on corporate governance at the company.
In July, Yusuf Bashir quit as Innovation Fund Managing Director. He was the Vice-President of new products at SAP and a former colleague of Sikka. Bashir had made 12 start-up investments, catering to the aim of Sikka to build tech innovation and get more clients under its fold.
There’s also a strong cultural angle that underpinned the conflict: Kannadiga, middle-class and humble versus Silicon Valley, aspirational and in-your-face.
Speaking to CNBC-TV18, Sikka said the allegations regarding the Panaya deal were a 'nonsensical detour'.
Vishal Sikka who has a doctorate in artificial intelligence from Stanford has been offered the post in HPE, reports Economic Times, quoting sources.
An electrical engineer from the Indian Institute of Technology, Bombay, he co-founded Infosys in 1981, and went on to hold several positions at the company, including that of chief operating officer, CEO, president and managing director.
Murthy was supposed to hold an investor call on August 23, which has now been postponed to August 29
Citing the voting pattern of promoters on various management proposals that have faced criticism in past three years, Institutional Investor Advisory Services (IiAS) said the founders have never voted against any resolution.
Narayana Murthy postponed his conference call with investors citing health issues, according to Investec.
In an e-mail to staffers, Rao acknowledged that the road ahead will not always be easy, but asked them to stay focused.
In an email to his staff, UB Pravin Rao made it clear at the outset that Infosys will “continue to execute on the strategy we have laid out for ourselves.”
Last four days have been turbulent for technology giant Infosys. The firm's MD and CEO Vishal Sikka quit on Friday, which was followed by a war of words between the company's board and its founder, NRN Murthy. Then came the announcement of a Rs 13,000 crore buyback and that announcement coincided with the news that some US based law firms are investigating alleged violation of US laws by either Infosys or its officials.
It noted that the company has indicated its willingness to meet key clients to address any concerns they may have due to the events of the past few days.
"He (Vishal Sikka) is covering up his own failure to reach the target by blaming Narayana Murthy," Mohandas Pai has said.
It is clear that Infosys has a tough task ahead of itself as it looks for a new CEO who has to be prepared to be in a position where the founders can be publicly critical
Infosys' statement indicates dominance of minority ex-promoter, over a Board of 10 members.
Cite leadership vacuum and possibly more exits on the cards for the negative view on the stock.
The stock will be in focus on Monday after the company's board on Saturday approved the share buyback plan of up to Rs 13,000 crore to reward shareholders.
The Infosys board has blamed Narayana Murthy's 'continuous assault' for Vishal Sikka's decision to quit as MD and CEO. Follow updates here.
As the market and industry come to terms with Infosys CEO Vishal Sikka stepping down, here is a broad timeline of the issues over the past few months that led to him taking this decision.
The embattlement at Infosys offers valuable lessons to entrepreneurs who are planning to devise a succession plan or appointing a new manager in charge of the business.