IT services giant Infosys on October 11 said that president Ravi Kumar S has resigned from his post with immediate effect.

“The Board of Directors placed on record their deep sense of appreciation for the services rendered by Ravi Kumar S. for his contributions to the company,” Infosys said in a regulatory filing.

The move comes just two days ahead of the company’s second-quarter result announcement.

Also Read | Semiconductor shares fall as US expands technology curbs on China

Kumar has worked with Infosys for nearly 20 years and served in various roles across the company before he was named president in 2016.

As president, he led the Infosys Global Services Organisation across consulting, technology, infrastructure, engineering, and process verticals.

Also Read | IMF lowers India’s GDP forecast by 60 bps to 6.8%, warns global economies

He also headed Infosys businesses like the business process management subsidiary, Infosys Public Services, Infosys Foundation (USA), and Hitachi Infosys JV among many others.

He was appointed Deputy COO in 2017 and was widely expected to become the company’s CEO. However, Infosys later did away with the post of COO late last year after incumbent UB Pravin Rao’s retirement. Ravi Kumar was given charge of immigration, cyber security, procurement, and the India business unit.

Also Read | India cements shares fall 10% after selling Springway Mining to JSW Cement

During his tenure at Infosys, he was previously Group Head for the Insurance, Healthcare, and Cards & Payments unit, managed Infosys Business Process Management, and handled Infosys’ business in Latin America, Japan, and China, among other roles.

According to the financial year 2021-22 annual report of Infosys, Kumar was the third highest-paid senior executive of the company after CEO Salil Parekh and former COO UB Pravin Rao.

Also Read | TCS Q2 Results: Profit rises 8% to Rs 10,465 crore YoY, revenue jumps 18%

The company said it is going to consider share buyback along with its July-September quarter results. “The Board of the Company will consider a proposal for buyback of fully paid-up equity shares of the Company at its meeting to be held on October 13, 2022,” Infosys had said on October 10.

Also Read | Adani Group may buy Jaiprakash’s cement unit for $606 million: Report

On Tuesday, shares of Infosys ended 2.65% lower at Rs 1,423.90 per share on BSE ahead of its declaration of quarterly results scheduled for October 13.