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Infosys chairman Nandan Nilekani wants to ‘build consensus’, bring stability to company

Nilekani, one of Infosys’ seven founders and a former CEO, was named chairman late Thursday in a victory for the founders, who led by Narayana Murthy have waged an increasingly acrimonious battle with the board for months over alleged corporate governance lapses.

By: Express Web Desk | New Delhi | Updated: August 25, 2017 7:53 pm
infosys, nandan nilekani, infosys nandan nilekani, nilekani infosys chairman, nandan nilekani infosys, india news, narayana Murthy, Vishal sikka Nandan Nilekani was appointed Chairman of Infosys yesterday.

Nandan Nilekani, Infosys’ new chairman, said on Friday that his goal is to build consensus and bring stability to the company. In a statement to news agency PTI, Nilekani said he will take feedback from small and big investors on corporate governance issues at the IT company. Nilekani also added that he represents 100 per cent shareholders.

He said he has a record of doing things in different environments and consensus building. Nilekani will get full briefing on investigation into alleged wrongdoing in USD 200 million buyout of Panaya. The Infosys board, under Nilekani’s chairmanship, said it never wanted to cause anguish to Infosys founder NR Narayana Murthy.

Nandan Nilekani, one of Infosys’ seven founders and a former CEO, was named chairman late Thursday in a victory for the founders, who led by Narayana Murthy have waged an increasingly acrimonious battle with the board for months over alleged corporate governance lapses. Nilekani took to his twitter handle and wrote:”Joined @Infosys at 26, re-joined it at 62. Life does turn full circle!”

After his appointment as the new chairman, Nilekani had said his priorities were to find a CEO, reconstitute the board and shape future strategy, as he sought to calm investors frazzled by the recent shock exit of the firm’s chief over a prolonged row with its founders.

Vishal Sikka, the first non-founder CEO of Infosys, had resigned last week blaming Murthy for creating an “untenable atmosphere”, sparking a sell-off in Infosys shares and wiping billions of dollars off the company’s market value.

In his notice to the board, Sikka had said he was resigning because of “a continuous stream of distractions and disruptions” that were stumbling blocks in managing the company.

A statement released by the board after Sikka’s resignation said that “Mr. Murthy’s continuous assault is the primary reason that the CEO, Dr Vishal Sikka, has resigned despite strong Board support.”

Sikka was appointed as the CEO of Infosys Ltd in 2014, making him the first CEO who was not also one of its founders.

With inputs from PTI

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