Former chairman of IT bellwether Infosys,
R Seshasayee said that it was regrettable that Infosys co-founder NR
Narayana Murthy's campaign has patently slipped into personal attacks,
reported a leading news agency.
Four directors including, R Seshasayee, Vishal Sikka, Jeffrey Lehman and John Etchemendy stepped down from the Infosys board after Murthy brought back Nandan Nilekani to the board as non-executive Chairman.
“Since my resignation from the board, I have kept away from making any public statements, despite provocations, since I sincerely want the company to move forward and not be bogged down with the issues of the past,” Seshasayee said as quoted by a media repor
Four directors including, R Seshasayee, Vishal Sikka, Jeffrey Lehman and John Etchemendy stepped down from the Infosys board after Murthy brought back Nandan Nilekani to the board as non-executive Chairman.
“Since my resignation from the board, I have kept away from making any public statements, despite provocations, since I sincerely want the company to move forward and not be bogged down with the issues of the past,” Seshasayee said as quoted by a media repor
NR Narayana Murthy during the recently held concall with shareholders
said that his main concern was the poor governance practised by the
previous board.
“The previous Board reported in its 20-F in May 2016 and through other communication channels that the company had entered into an unusual agreement to pay an excessive sum as severance to the ex-CFO, Mr. Rajiv Bansal, in October 2015. On 18 June 2016, Mr. Seshasayee told the shareholders of Infosys at the AGM that the Board agreed to pay that sum to Mr. Bansal because he was “privy to a lot of price sensitive information as CFOs are”. Please note that no previous CFO of the company, nor the current CFO had or have such an excessive severance pay clause in their contracts”, Murthy had said in this interaction with the investors during the concall..
“The previous Board reported in its 20-F in May 2016 and through other communication channels that the company had entered into an unusual agreement to pay an excessive sum as severance to the ex-CFO, Mr. Rajiv Bansal, in October 2015. On 18 June 2016, Mr. Seshasayee told the shareholders of Infosys at the AGM that the Board agreed to pay that sum to Mr. Bansal because he was “privy to a lot of price sensitive information as CFOs are”. Please note that no previous CFO of the company, nor the current CFO had or have such an excessive severance pay clause in their contracts”, Murthy had said in this interaction with the investors during the concall..
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