Here’s why Infosys offered a role to 70-year-old Narayana Murthy

Narayana Murthy

Narayana Murthy had publicly criticised Infy for poor corporate governance.

 

LATEST NEWS   :    Infosys board is making every effort to placate its founder N R Narayana Murthy, who has criticised the company on its corporate disclosures, by offering a formal role in the organisation. It also would bring curtains to the distraction that chief executive Vishal Sikka has often complained is hurting the business.

 

At 70, Murthy is eligible for a role on the board, including as executive chairman. In 2013, Infosys board had raised the age bar to 75 from the earlier 60 years to facilitate entry of Murthy as the IT major firm chairman for the second time.

 

“If he were to wish that, we would absolutely consider it,“ Ravi Venkatesan, co-chairperson at Infosys said in an interview with ET NOW on Thursday.

 

 

Since, Murthy raised the issue of failing corporate governance, Infosys has taken pains to bring policy changes to improve transparency, which includes scrutiny of the CEO expenses by the board. It has also brought in D N Prahlad, Murthy’s relative on the board of Infosys and elevated Ravi Venkatesan as co-chairperson.

 

Venkatesan, a former Microsoft India chairperson, who has bought the idea of Sikka’s push to transform the organisation from a traditional IT services firm to a software led services firm, has been active to bring in the truce between the founders and the board.

 

 

ALSO  READ  THIS   :    Full text: Highlights of Economic Survey volume-2

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