1. Nandan Nilekani returns to Infosys as Chairman: Top 5 highlights

Nandan Nilekani returns to Infosys as Chairman: Top 5 highlights

Cofounder Nandan Nilekani, who played a major behind the scenes part in trying to resolve the crisis at Infosys during the row between other cofounder NR Narayana Murthy and former CEO and MD Vishal Sikka, has been appointed as the new chairman.

By: | New Delhi | Updated: August 24, 2017 10:02 PM
Nandan Nilkenai, Nandan Nilkenai news, Nandan Nilkenai latest news, Nandan Nilkenai infosys, narayanamurthy, narayanamurthy infosys Nandan Nilekani says he is happy to return, this time as non-executive Chairman. (Reuters)

Cofounder Nandan Nilekani, who played a major behind the scenes part in trying to resolve the crisis at Infosys during the row between other cofounder NR Narayana Murthy and former CEO and MD Vishal Sikka, has been appointed as the new chairman. He is expected to play a calming effect in one of the biggest tech majors in the world, which is going through one of its worst periods. The points of contention at Infosys that was driving the feud between the cofounders and the management included compensation of Sikka and other top executives, the $200 million spent on buying of Israeli company Panaya, slipping corporate governance standards as well as a generous severance package that Infosys paid when a former finance chief quit. “It’s a good development as the company has got a credible face on the board who will act as a guide, and assure clients and shareholders that critical functions and strategies will continue,” Reuters quoted Harit Shah, IT analyst at Reliance Securities as saying. Here are the top highlights:

1. Nandan Nilekani appointed as non-executive, non-independent chairman of the board

2. Chairman of board R Seshasayee and co-chair Ravi Venkatesan step as does former CEO Vishal Sikka

3. Nandan Nilekani says he is happy to return, this time as non-executive Chairman

4. UB Pravin Rao will continue as interim CEO and MD at Infosys

5. Nilekani to take over in new post with immediate effect. The official statement released by Infosys said, “(The) Board of Directors has unanimously approved the appointment of Mr Nandan Nilekani as the Non Executive Chairman of the Board, effective immediately.”

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