Here's why Infosys offered a role to 70-year-old Narayana Murthy
Narayana Murthy had
publicly criticised Infy for poor corporate governance.
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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.
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