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Nandan Nilekani appointed as Infosys Chairman, Vishal Sikka quits board, Seshasayee steps down

The Indian Express logo The Indian Express 24-08-2017

© Hemant Mishra/Mint via Getty Images Nandan Nilekani was on Thursday appointed as the Chairman of Infosys, days after Vishal Sikka resigned from the post. The decision in this regard was taken at the meeting of the Board of Directors of Infosys.

“Nilekani has been appointed as the non-executive, non-independent director and the chairman of the Board of Directors with immediate affect,” according to Infosys official declaration to BSE, NSE and other international stock exchanges on which it is listed.

Full coverage: Infosys crisis

The Indian Express first reported about Nilekani’s possible return as Infosys chairman. Nilenaki is the co-founder and former chief executive of Infosys. Read | Vishal Sikka gone, Infosys founders set stage for Nandan Nilekani to lead firm The board also accepted the resignation of Sikka as the Executive vice-chairman of the board and as the director of the board.

R Seshasayee also quit as the chairman of the board and director on the board. The board has been locked in a dispute for months with the company’s founders, led by former chairman Narayana Murthy, who have accused the directors of governance lapses.

The backstory to Infosys CEO Vishal Sikka's resignation

The dispute led to the resignation of Vishal Sikka last week. Sikka, a former SAP executive, who joined Infosys as its first non-founder CEO in 2014, resigned amid what he said were “baseless, malicious and increasingly personal attacks”, sparking a massive sell-off in Infosys’ shares and wiping billions of dollars off its market value.

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