Another top-level exit at Infosys; Exec-VP Lobo quits

Indian Information Technology company Infosys has seen another top-level exit as its Executive Vice President and former Human Resources head Richard Lobo has resigned from his role. Lobo will keep holding the position till August 31.  

In an exchange filing on August 4, the company informed that Lobo has resigned from the services of the company. His last date would be August 31. “The company places on record its deep sense of appreciation for the services rendered by him and for his contributions,” Infosys said.  
 
Lobo, in his resignation letter to Chief Executive Office Salil Parekh, wrote, "I'm writing to inform you of my decision to resign from my position at Infosys. I'm grateful for the opportunities and experiences I have had during my time here." 
 
In July, he was shifted to a special projects team under the CEO and Sushanth Tharappan replaced him as HR head. In February, Infosys appointed Shaji Mathew as Group Head of HR effective March 22. 
 
An alumnus of Xavier's Institute of Management and mechanical engineer from the Manipal Institute of Technology, Lobo has been with Infosys since 2000 and headed HR for various practices. He served as the head of HR from 2015 to 2023.  
 
He also served as a Director on the Board of Infosys Consulting and Infosys China, as per his Linkedin profile.  
 
Earlier, he delivered services in various roles including sales and marketing at Godrej & Boyce. Apart from this, he worked as a shop floor engineer at a manufacturing plant and tackled the materials function for a shoe manufacturer.   
 
Lobo keeps sharing his views and ideas through publications actively as well as contributing as speaker at industry events.   
 
On July 20, in its post earnings press conference, Infosys informed that it has missed the Street expectations posting the weakest June quarter results since FY21. The company’s rose 1% sequentially and 4.2% year-on-year (YoY) in constant currency (CC) terms to ₹37,933 crore in the June quarter. However, its net profit for the quarter jumped 10.9% YoY to ₹5,945 crore.  
 
The company currently has 80 active projects in this domain and is training 40,000 employees on generative AI-specific skills.