Narayana Murthy asks Infosys to make Panaya report public; co says no

Narayan Murthy

Tensions between founders and company emerge again

 

 

LATEST NEWS :   Infosys co-founder N R Narayana Murthy’s concerns over governance lapses at the company have resurfaced. Murthy has asked the company to make the recent Gibson, Dunn & Crutcher report public.

 

In a recent communication to the Infosys board, Murthy questioned why executives such as Ritika Suri — who was a member of the team that acquired Israeli firm Panaya — quit Infosys soon after the global law firm gave a clean chit. Suri, a former colleague at SAP of Infosys Chief Executive Officer Vishal Sikka, was head of corporate development and ventures, when the deal was signed in April 2015 and she quit the firm in June this year.

 

Since then, several executives have quit Infosys, including its Americas Head Sandeep Dadlani, Anirban Dey, chief business officer of Edge products at EdgeVerve, and Yusuf Bashir, global head of Infys’ $500-million innovation fund.

 

 

The summary findings made public by Infosys in June had looked at the questionable severance payout made to former chief financial officer Rajiv Bansal, expenses incurred by Sikka and whistleblower complaints to market regulators Sebi and the US Securities and Exchange Commission over alleged improprieties in the $200-million acquisition of Panaya.

 

Murthy did not respond to an email seeking comment. Infosys said in a response that the company did not plan to make the report public.

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