I’m a big believer that if you build the right digital infrastructure then you can leapfrog,” Nandan Nilekani.
Nandan Nilekani said his priorities were to find a CEO, reconstitute the board and shape future strategy, as he sought to calm investors unnerved by the recent exit of Vishal Sikka. “I have come in to focus on the future of the company, I have come in to take the company forward and deal with its challenges,”
The newly-elected non-executive chairman of Infosys, Nandan Nilekani, elaborated on the qualities they would look for in the new chief executive, and had specifically mentioned Infosys alumni as potential candidates for the top job.
Infosys has been in a state of turbulence over the past week after the sudden exit of its CEO Vishal Sikka. The board of directors had blamed Murthy for triggering Sikka’s exit
The Board of Infosys, on the other hand, termed the past differences over governance issue with founder NR Narayana Murthy as “unfortunate” and stated that it never intended to cause him “personal distress or anguish”.
The announcement puts to rest speculation of Nandan Nilekani’s return to Infosys in the aftermath of Vishal Sikka’s exit on August 18.
On Thursday, The Indian Express reported that founders and former senior officials of the company had managed to persuade co-founder Nandan Nilekani to head India’s second-largest IT company. The official announcement for the appointment was made on Thursday night.
“Nandan Nilekani has been appointed as the non-executive, non-independent director and the chairman of the Board of Directors with immediate affect,” according to Infosys official declaration to BSE, NSE and other international stock exchanges on which it is listed.
Significantly, Nandan Nilekani had kept himself out of the boardroom battle between co-founder N R Narayana Murthy and the management and board of Infosys that played out over the last six months, often spilling into the public.
After Vishal Sikka’s appointment on the Infosys board, the company has had one extra-ordinary general meeting (in which Sikka was appointed), three annual general meetings and has approached shareholders five times through a postal ballot.
Delivering the sixth C K Prahlad memorial lecture, the architect of the Aadhaar system said there is a need for not just data protection but also the creation of data democracy in India so that control of their data can be handed to the people, Nilekani said.
Nilekani said that data from tools such as Aadhaar is fundamental for putting the economy on a cycle of growth, and could empower users with data, remove knowledge asymmetry and promote innovation. He also urged policymakers to take steps for data inversion to empower users, who can benefit from their own data.
“Fundamentum will have an initial corpus of USD 100 million but it will be extended to USD 200 million if good opportunities come along,” said an official statement
As the Supreme Court upholds the linking of ‘Aadhar’ with PAN, questions around ex-UIDAI chairman Nandan Nilekani praising iSPIRT head Sharad Sharma Twitter troll and ‘Aadhar’s privacy properties will continue to be asked
The Aadhaar Bill, 2016 clearly specifies that the biometric information captured will be used only for Aadhaar enrolment and authentication.