iGATE Corp. (IGTE) announced Tuesday morning that its Board of Directors has decided to terminate the employment of President and CEO Phaneesh Murthy. The Board has appointed Gerhard Watzinger as President and CEO on an interim basis.
iGATE gapped open sharply lower Tuesday and has continued to decline in early trade on above average volume. The stock is now down 1.81 at $14.59 and has dropped to a new low for the year.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.