Infosys Defends CEO and Board, Denies Governance Lapses
By MEHER ONISA : 10-Feb-2017
BENGALURU: Infosys chairman R. Seshasayee had supported the CEO Dr. Vishal Sikka and had denied all the allegations of the lapses in the governance. He had also cleared about his organizational system that is streamlined under the strategic directions of Sikka.
R. Seshasayee had appreciated his board that is committed to undertaking fiduciary responsibilities in the joint interest of the shareholders and the company.
The board has appointed a strategic corporate governance expert, Cyril Amarchand Mangaldas to drive the corporate communication forward with the key external bodies and stakeholders. Cyril Amarchand would be evaluating the inputs and table the best positive recommendations in the favor of the company.
Infosys has outwardly given explanations on a series of complex issues including the CEO compensation, appointment of the high cadre in the hierarchy and upon the severance pay of the employees on their early termination.
Earlier, the chief founders of Infosys NR Narayana Murthy, Kris Gopalakrishnan, and Nandan Nilekani had collectively expressed their concerns about the CEO’s pay rise and about the severance package offered to the retired officials that had agitated a rift between the founders and the board.
The chief executive officer, Vishal Sikka has advised his employees to keep up the integrity and keep a sharp focus in executing their duties.