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Double Trouble: Infosys Parts Ways with HR Head Twice in One Year, While Suffering 73,000 Crores Loss


Infosys, a leading Indian IT company, recently made changes to its executive team. Richard Lobo, who served as the head of Human Resources (HR) since 2015, will be replaced by Sushanth Tharappan. Lobo will now be part of a special projects team led by CEO Salil Parekh.

Sushanth Tharappan, an alumnus of St Aloysius College in Mangaluru, will take over as the new HR head at Infosys. Tharappan has been leading Infosys’ leadership institute since 2019, focusing on succession planning and executive development. His extensive experience at Infosys includes roles such as global head for talent acquisition, head of HR for Products, Platforms, and Solutions, and Chief People Officer at Edgeverve. Tharappan holds a BSc degree from St Aloysius College and an MBA from Mangalore University.

After serving Infosys for over 22 years, Richard Lobo will be joining the special projects team led by CEO Salil Parekh. Lobo, an alumnus of Xavier’s Institute of Management in Bengaluru, holds a mechanical engineering background from the Manipal Institute of Technology.

Taking over the reins of succession planning and executive development at Infosys is Sushanth Tharappan. With a long-standing association with the company since 2000, Tharappan has held diverse positions and made substantial contributions to the organization.

Double Trouble: Infosys Parts Ways with HR Head Twice in One Year, While Suffering 73,000 Crores Loss

Congratulations to Sushanth Tharappan on his new role as the head of Human Resources at Infosys! It’s worth mentioning that Sushanth Tharappan’s father, Prof Sunny Tharappan, had a notable career at St Aloysius College in Mangaluru as part of the English department.We extend our best wishes and good luck to Sushanth Tharappan in his new position. May he continue to excel in his career and achieve great success in all his future endeavors.

During a week of overall weak performance in the stock market, eight out of the top 10 most valuable companies witnessed a collective decrease in market valuation by Rs 1,17,493.78 crore. Among them, Infosys registered the largest decline. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, and ICICI Bank were also among the companies that experienced a decrease in their valuation. On the other hand, ITC and State Bank of India were the only two companies that saw an increase in their market valuation.

Infosys witnessed a significant decline in its market valuation, plummeting by Rs 66,854.05 crore to reach Rs 5,09,215 crore. This decline can be attributed to the company’s lower-than-expected growth in fourth-quarter net profit and a weak revenue growth guidance for the fiscal year 2024. The guidance of 4-7% was influenced by IT budget tightening by clients, which was a response to the turmoil in the US banking sector. These factors contributed to the decline in Infosys’ market valuation.

During the period mentioned, several companies experienced fluctuations in their market valuations. Here are the changes observed:

  1. Infosys: Market valuation decreased by Rs 66,854.05 crore to reach Rs 5,09,215 crore.
  2. HDFC Bank: Valuation fell by Rs 10,880.5 crore to Rs 9,33,937.35 crore.
  3. ICICI Bank: Lost Rs 10,462.77 crore, bringing its valuation to Rs 6,17,477.46 crore.
  4. TCS: Experienced a decline of Rs 10,318.52 crore in market capitalization, reaching Rs 11,56,863.98 crore.
  5. Hindustan Unilever: Market valuation decreased by Rs 8,458.53 crore to Rs 5,86,927.90 crore.
  6. HDFC: Valuation dropped by Rs 5,172.27 crore to Rs 5,06,264.24 crore.
  7. Reliance Industries: Market valuation decreased by Rs 4,566.52 crore, reaching Rs 15,89,169.49 crore.
  8. Bharti Airtel: Experienced a dip of Rs 780.62 crore, bringing its valuation to Rs 4,26,635.46 crore.
  9. ITC: Saw an increase in valuation by Rs 15,907.86 crore, reaching Rs 5,07,373.82 crore.
  10. State Bank of India: Market valuation climbed by Rs 8,746.11 crore to Rs 4,84,561.80 crore.

Reliance Industries remained the most valued company, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, HDFC, State Bank of India, and Bharti Airtel. These changes in market valuations were a result of various factors and market conditions during that period.

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