With Nilekani's return, Infy goes back to its roots
25 Августа 2017, 01:49 | Yvette Williams
Nandan Nilekani has assumed a new role at Infosys to steer the company away from troubled waters
The Infosys board had said in a release it had no intention of asking Murthy to play a formal role in the governance of the organisation.
Two independent directors - Jeffery S Lehman and John Etchemendy - also resigned from the Infosys board with immediate effect.
Last Friday, Sikka, the first non-founder CEO of Infosys, resigned from the company following months of acrimony with high-profile founders, led by Murthy, citing "malicious" and "personal attacks" on him.
"Many investors are asking for Nilekani to come back". UB Pravin Rao was appointed as the Interim Chief Executive Officer and Managing Director reporting to Sikka, under the overall supervision and control of the company's Board.
While Sikka did not name Murthy for his exit, the Board of the $10 billion firm blamed the founder for "continuous assault" through "factually inaccurate" and "already-disproved rumours" for the resignation of the CEO.
Shares in Infosys rose for a third straight day on Thursday, following reports that former Chief Executive Nandan Nilekani could return to the board to help the software services exporter ride out its latest controversy.
Nilekani was one of the seven founders that set up Infosys more than three decades ago and served as its CEO between March 2002 to April 2007.
Nilekani returns to the Bengaluru-headquartered company at a time when Indian outsourcers have been dented by cautious client spends in their biggest market, the United States, and as they brace for changes to a US work visa programme they have heavily relied on in the past to fly engineers into the country.
Some of the domestic institutional investors who had written letter to company's board seeking Nilekani's return told DH that Nilekani was suitable candidate to take the company out of mess, as he combines technological foresight with faith of the company's co-founders. The company has also accepted the resignation of R Seshasayee who will now be replaced by Nandan Nilekani.
'Nandan is the ideal leader for Infosys at this stage in the company's development. All equity awards outstanding as on separation date to the extent such awards are unvested will terminate on the date of separation.
Pai said more and more people-whether they are employees, or investors or others-are coming to the conclusion that this board has to go and a new one has to come.
The letter also stated that the investors feel Nilekani enjoys trust and support of the majority of the stakeholders in Infosys and his elevation to hold the top responsibility will not be opposed by anyone concerned.
При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна. «» 2007 - 2018 Copyright. Автоматизированное извлечение информации сайта запрещено.
US, citing human rights, cuts some Egypt aid
The decision could have " negative implications " on achieving common goals and interests between the two countries, it added. However, Obama restored military aid to Egypt in 2015 amid the growing threat of the Islamic State (IS) in the region.
Apple scales back vehicle ambitions
While the bus isn't yet running, it's hard to imagine Apple employees needing a lift and chirping, "Let's go hop in the PAIL! ". Executive Steve Zadesky was originally in charge of titan and he wanted to build a semi-autonomous vehicle similar to Tesla.
Sears to Shut More Kmart Stores
For those wondering if Sears could manage to string together multiple quarters of positive profit, the answer is: no. Sears posted a $1.16 per share adjusted loss, compared to a Wall Street forecast of a $2.42 per share adjusted loss.
Senior US delegation in Israel trying to revive peace talks
The visit is part of a regional tour by Kushner, Trump aide Jason Greenblatt and Deputy National Security Adviser Dina Powell. On Wednesday, the USA delegation is expected to arrive in Israel, the media outlet said citing a White House aide.
Ariz. business group opposes Trump on NAFTA
Reducing technical trade barriers and the improving logistical movement of products, he said, would benefit all three countries. Currency strategists were forecasting the US dollar to regain some strength in the second half of this year, however.
Saudi coalition airstrikes in Yemen kill at least 54
According to AL Jazeera , now more than seven million people are on the verge of starvation and an unprecedented cholera strike. It was unclear whether they were members of the Houthi rebel forces fighting against the Saudi-backed government, or civilians.
Tigers, Yankees brawl; Cabrera among ejections
There were no punches thrown during that altercation, which led to the ejection of Betances and Yankees bench coach Rob Thompson. Detroit Tigers players will look to rebound on Wednesday following a series opening loss to the New York Yankees .