Nilekani to focus on CEO search

mumbai — The new chairman of Infosys said his priorities were to find a CEO, reconstitute the board and shape future strategy, as he sought to calm investors frazzled by the recent shock exit of the firm’s chief over a prolonged row with its founders.

Nandan Nilekani, himself one of Infosys’ seven founders and a former CEO, was named chair on Thursday in a victory for the founders, who led by Narayana Murthy have waged an acrimonious battle with the board for months over alleged corporate governance lapses.

Vishal Sikka, the first CEO of Infosys drawn from outside its founders, resigned last week blaming Murthy for creating an “untenable atmosphere”,

Joined @Infosys at 26, re-joined it at 62. Life does turn full circle! Nandan Nilekani @NandanNilekani

sparking a sell-off and wiping billions of dollars off Infosys’s market value.

“I have come in to focus on the future of the company, I have come in to take the company forward and deal with its challenges,” Nilekani told investors on a call on Friday, adding he would stay with the IT firm for as long as needed.

Earlier in the day, he tweeted: “Joined @Infosys at 26, rejoined it at 62. Life does turn full circle!”

Credited for increasing Infosys’ revenue to $2 billion from $500 million during his 20022007 stint as CEO, Nilekani said his key task would be to assist in the search for a new leader from within the company or outside.

India’s second largest software services firm has named recruitment firm Egon Zehnder to help find a CEO who will be able to manage a large global firm, accelerate strategy execution and oversee its transformation, he said. —