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  1. Narayana Murthy blasts Infosys board with second letter bomb after Vishal Sikka quits, says don’t want board to drive Infy to death

Narayana Murthy blasts Infosys board with second letter bomb after Vishal Sikka quits, says don’t want board to drive Infy to death

Narayana Murthy slammed "some vested interests" who have made the public think that the tussle is "between Vishal & co-founders."

By: | New Delhi | Updated: August 18, 2017 10:34 PM
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In a letter publicised after Vishal Sikka’s resignation as CEO of Infosys, company founder NR Narayana Murthy on Friday slammed “some vested interests” who have made the public think that the tussle is “between Vishal & co-founders.” In his letter, Murthy said that rumours are being spread about his letter to Infosys board dated July 8, ET Now reported. Murthy added that he has not commented on Sikka’s work as is being portrayed by the media. He added that the co-founders consider it their responsibility to ensure that governance standards are restored in the company. “Governance standard must be brought to a reasonable level if not the pinnacle, don’t want money, a position for our children and power. Just don’t want board to drive this institution to death via serious governance deficits,” Murthy said in his letter. He added, “I believe that the fault lies with the current board.”

Best way to ensure the longevity of any corporation is by pursing good governance, want the board to protect institution rather than protecting some individuals like today,” he added. Murthy said that company posted huge growth between the year 1993-2014  because of “values and good governance”. Putting up grave allegations, Murthy said that Infosys board made inaction its strategy since 2015. “Board has to answer questions on whistleblower report, Seshasayee ignored my suggestion to get outsiders for whistleblower probe and to disclose entire report on co website,” he said in his letter.

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Earlier in the day, Sikka announced his resignation from the post of company CEO, a move that sent shockwaves to India Inc. Sikka’s resignation came following the differences with some founders of the company, including Narayana Murthy. Infosys, issuing a media statement, said that board of directors had accepted Sikka’s resignation and appointed UB Pravin Rao as interim CEO and managing director. Writing a letter to the board, Sikka cited “a continuous stream of distractions and disruptions” that were hindering management of the company.

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