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Infosys: Nandan Nilekani new chairman, Seshasayee, Sikka, Venkatesan resign

LiveMint logoLiveMint 24-08-2017 Livemint

Infosys chairman R. Seshasayee, co-chairman Ravi Venkatesan and executive vice-chairman Vishal Sikka have resigned from the Infosys board, the IT firm said in a press release on Thursday. The company’s co-founder Nandan Nilekani has been appointed chairman.

Mint had reported earlier on Thursday that the entire board, except two independent directors, has offered to resign from their positions, ahead of Nandan Nilekani’s impending return to the company that he co-founded 36 years ago with six others.

Nilekani had insisted on a clean slate as one of the primary conditions for his return, the report said.

The latest developments mark a dramatic turn of events for what has been a roller-coaster week at Infosys that began with Vishal Sikka’s decision to step down as CEO and the company’s subsequent statement blaming Murthy for Sikka’s exit. The events shocked stock markets and wiped out nearly $4 billion of Infosys’s market value.

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