Nandan Nilekani returns to Infosys as Chairman
Jeffery S Lehman and John Etchemendy have also quit the Infosys board shortly after Vishal Sikka announced his resignation.
Nandan Nilekani has returned to Infosys as chairman and the decision has come after the now outgoing chairman R Seshasayee and co-chair Ravi Venkatesan quit. The news doesn’t come as a surprise to many after the news of CEO Vishal Sikka quitting.
Media reports suggest that many institutional investors persuaded Nilekani to return. A report by Economic Times said that ‘Nilekani's regime at the helm of Infosys between March 2002 and April 2007 marked a stellar phase for the company, when the company's market capitalisation surged 374 per cent.’
Jeffery S Lehman and John Etchemendy have also quit the Infosys board. Prof. Etchemendy, the outgoing Director of Board said, "With Vishal’s departure, the board and his successor will embark on a new phase in Infosys’ future, and I think that giving up my board seat to a new independent director is the right decision,” in an article by Moneycontrol.com. Lehman was supposed to retire from Infosys in April, 2018.
In a statement made by Nilekani, he said, “I am happy to return to Infosys, now in the role of non-executive chairman, and look forward to working with my colleagues on the Board and in executive management on the business opportunities we see before us and delivering benefits to our clients, shareholders, employees and communities.”
Many have serious doubts over the direction of leadership at Infosys and are afraid that competitors will use this indecisive time to poach clients.
While Infosys decides on a permament CEO and MD, UB Pravin Rao will be the Interim CEO and MD
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