"We have taken several steps during the year to address the concerns relating to the company's stability. We have a stable board and everybody is united. The focus now is on relentless execution. "
Infosys chairman Nandan Nilekani on Saturday said things are stable in the company. Nilekani, one of the co-founders of Infosys who took charge as chairman in August last year, said the brand Infosys is ready and relevant and everyone is united to take Infosys higher.
Speaking to shareholders at the 37th annual general meeting, he said, “We have taken several steps during the year to address the concerns relating to the company’s stability. We have a stable board and everybody is united. The focus now is on relentless execution.” The statement from the Infosys chairman comes after the company saw a tussle between the co-founders and the board, resulting in the exit of former CEO Vishal Sikka and board chairman R Seshasayee in 2017.
Nilekani said Infosys is in the right direction under the leadership of the new CEO, Salil Parekh. He assured the company’s shareholders that the company will spare no efforts to do all that it will take to realise its aspirations, with the generous support of all stakeholders. He elaborated that the company is focusing more on localising and building more capabilities in major markets like the United States, Europe and Australia.
This is part of the Infosys strategy to overcome the visa challenges owing to regulatory pressure from geographies like the US, Singapore and Australia. Infosys had announced setting up of a campus in the US state of Indiana and innovation hubs in other cities across the US. It had also announced plans to hire 10,000 local people in the US, a move that was praised by US secretary of state Mike Pompeo, and of which it has already hired 4,000 people.
Nilekani mentioned that every industry and every sector is undergoing tremendous transformation driven by the digital revolution and Infosys is ready to address the needs of the clients.
Speaking to the company’s shareholders, CEO Salil Parekh said the company has drawn a five-pronged strategy to increase digital growth. Parekh, who assumed office of CEO after the resignation of Vishal Sikka, said the company is investing in building digital capabilities to meet the demands of clients. Infosys is also investing heavily in reskilling employees in the digital technologies like automation and artificial intelligence. Digital technologies contributed about 25.5% of the overall revenue of the company for FY18 at $2.79 billion.