No End to Woes
Nandan Nilekani, the recently appointed Infosys Chairman, giving a clean chit to the company’s acquisition of Israeli firm Panaya Ltd in 2015, and absolving the previous board and former CEO Vishal Sikka, has left N.R. Narayana Murthy fuming. Nilekani had rejoined the company in a crisis-like situation after former CEO Vishal Sikka resigned after a long-running feud with Murthy over governance issues in the company. Murthy has been raising questions about irregularities in the Panaya deal and the severance pay given to former CFO Rajeev Bansal for a while now. However, the recent investigation by the new board reiterates the results of the earlier one, much to Murthy’s chagrin. “I stand by every question on poor governance raised in my speech to Infosys investors dated Aug 29, 2017. The fact remains that none of these questions have been answered by the Infosys board with the transparency it deserves. I am disappointed,” Murthy said.