Infosys press conference begins following the resignation of CEO and MD Vishal Sikka.

Vishal Sikka, the first non-founder CEO of Infosys, has resigned amid heightened acrimony between the board and the high-profile founders led by NR Narayana Murthy, saying he faced "false, baseless, malicious and increasingly personal attacks". Pravin Rao, currently chief operating officer, will become interim CEO, India's second largest software services exporter said in a statement.

At the press conference, R Venkatesan, Co-Chairman, Infosys, says from Bengaluru, "With incredible sadness have accepted the resignation of Vishal Sikka. We fully understand his reasons. No doubt that Vishal Sikka is a phenomenal guy, the world knows it. He has blossomed as a leader.

Vishal is an industry leader. He will stay on for 90 days to help the Board with a smooth change. CEO Rao will report to Sikka. There is no change in strategy.

Vishal Sikka joins the press conference from California. He says he started three years ago on this journey. Insfosys is more than a company. It is an institution.

"I started more than three years ago on this journey, I am proud of the results we achieved. In many ways it is a sad day, but in many ways it might help things. It is in the company's interest that with this kind of change the company can make a fresh beginning. I signed up for disruption. I will ensure continuty.

I am proud of the results achieved. We Will focus on strategy and key client relationships. We will take it from there. I have no plans about what I am going to do next. I'm here till March 31 or sooner if manange to get a replacement.

What was difficult to deal with was continuous allegations & continuous noise around the same thing. At a point you realize it's taking a heavy toll on the organisation and personally so I felt it's an untenable situation.

We came to conclusion that I will stay on as executive vice chairman, help in transition and  Pravin Rao will be interim CEO."