New Delhi: HCL Infosystems Ltd’s managing director and chief executive officer Harshavardhan Madhav Chitale has resigned, effective close of business hours on 31 December. The company has appointed executive vice-chairman Premkumar Seshadri as MD, effective 1 January 2015. He will serve in both positions from the new year.

Chitale has also resigned as director of HCL Infosystems, a listed subsidiary of HCL Enterprise, the company informed BSE on Monday.

Seshadri was named executive vice-chairman of the company in September this year. He has been a non-executive director on the HCL Infosystems board since March 2014.

At 12:12pm on Monday, shares of HCL Infosystems fell 5.09% to 61.50, while the benchmark Sensex index fell 0.28% to 28,378.59 points.