Infosys President and head of US operation Sandeep Dadlani has resigned after serving the IT major for 16 years, Mint reported on Friday. Although the reasons for his resignation is not clearly stated, it comes at a time when there are reports of mounting pressure on the company’s top brass after a series of poor quarterly performances, according to The Times of India.

Dadlani was also the global head of Infosys’ manufacturing, retail, consumer & packaged goods and logistics vertical. “Sandeep has played a key role in the success of Infosys over his career and in our transformation journey these past three years. We wish him the best in the journey ahead,” said Chief Executive Officer Vishal Sikka in a statement.

Dadlani said an “out-of-the-world assignment” was awaiting him. According to reports, he may be joining Virginia-based confectionery company Mars.

While Karmesh Vaswani will replace Dadlani as global head of retail, CPG & logistics, Nitesh Banga has been appointed as the global head of manufacturing. The new appointments will be effective from July 15, reported Economic Times. “I have tremendous faith in their passion for client success and their ability to help clients see and achieve their digital aspirations,” said Sikka. “I am confident that our RCL and manufacturing businesses will thrive under their leadership.”

However, Dadlani’s resignation took the company’s shares on a downward trend. On the Bombay Stock Exchange, the shares fell by 1.24% to Rs 940.50 on Friday.

Dadlani’s resignation is the latest in the series of crucial exits ever since Sikka took charge in August 2014. Several executive vice presidents, including consulting head Sanjay Purohit, healthcare and life sciences chief Manish Tandon and BPO head Anup Updadhyaya, have quit the company in the recent past.

In a related development, the company on Friday said that it has appointed Inderpreet Sawhney as the group general counsel. She replaced David Kennedy who had resigned in January.