Shares of information technology (IT) companies are trading higher for the fourth consecutive trading session as the Indian rupee weakened against the US dollar.

Tata Consultancy Services (TCS), Infosys, Wipro, HCL Technologies, MphasiS, Hexaware Technologies, Mindtree and Tech Mahindra are up 1-2%, each in early morning deals on the Bombay Stock Exchange (BSE).

Call it a wise move or a calculated gamble, but Bangalore-based information technology major Infosys is set on a new chapter in its history with the adoption of a model that supports two power centres under the chief executive officer (CEO) and the chief operating officer (COO). The CEO-COO model is certainly not new to Infosys - such a structure was in place till two years ago. However, this will be the first time that both officials are going to be men who did not play a role in the company's founding. Additionally, while the CEO is a complete outsider, the COO is a 28-year veteran of Infosys.

The products, platforms and solutions (PPS) segment of Infosys contributes only 5.1% of the total revenue and bigger bets are now being placed that this would turn into a larger pie in days to come. The IT major has already started a separate subsidiary to focus on this segment and it remains to be seen what strategy.

Vishal Sikka will adopt to create a strong differentiation in the marketplace.

It is quite a coincidence that Vishal Sikka took up the top job at Infosys. Sikka, a former executive board member at German software maker SAP AG, is said to have left the company over a power struggle with the management. Infosys, which had been battling succession planning issues for a couple of years now, has also seen high-voltage power struggles with several senior executives quitting the firm within a matter of months. Sikka’s appointment is expected to end such mass exodus in future.

Infosys’ 33rd annual general meeting (AGM) on Saturday seems the last with N R Narayana Murthy, founder of the Bangalore-based company, in the chair. This is also true for the rest of the co-founders, S Gopalakrishnan and S D Shibulal.

Vishal Sikka, chief executive officer (CEO)-designate at Infosys, could be the costliest boss of an Indian information technology services company.

Experts said Sikka would not only earn more than any of his predecessors at Infosys but also among CEOs of competing companies.

The excitement in the conference room of Infosys' Bangalore headquarters was palpable when the company on Thursday ended a speculation of months by announcing Vishal Sikka, former executive board member at software maker SAP, was going to be the next chief executive officer & managing director. U B Pravin Rao, the company's president at present, was named the next chief operating officer.

Infosys has opened higher by nearly 3% at Rs 3,280 on the NSE after the board has appointed former SAP executive Vishal Sikka as the Chief Executive Officer and Managing Director (CEO & MD) of the company. Sikka will take over from August 1, 2014.

The board of directors of the company has also elevated U B Pravin Rao, president and whole-time director, as the Chief Operating Officer, with effect from June 14, 2014, Infosys said in a statement.

Infosys, the country's second biggest information technology company, going through a troubled leadership transition, has sent legal notices to three Indian newspapers for the first time in its history since seven entrepreneurs, including N R Narayana Murthy, set it up.

Bangalore/New Delhi: India’s second largest software exporter Infosys Ltd has issued legal notices of Rs.2,000 crore each against at least three publications owned by Bennett, Coleman and Co. Ltd and The Indian Express Ltd, alleging that some articles they had published defamed the company.

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