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Nandan Nilekani to focus on CEO search, new board and strategy for Infosys

LiveMint logoLiveMint 25-08-2017 Sankalp Phartiyal

Bengaluru: Infosys Ltd’s new chairman said he would focus on finding a chief executive, reconstituting the board and future strategy, seeking to calm investors rattled by the recent shock exit of the firm’s CEO over a prolonged row with the founders.

I have come in to focus on the future of the company, take the company forward and deal with its challenges, Nandan Nilekani told investors on a call on Friday, adding that he would stay with the IT services company as long as necessary.

Nilekani said he was an admirer of N.R. Narayana Murthy and would ensure that Infosys, Murthy and other founders have a healthy relationship. It was too premature for him to comment on Infosys’ strategy, guidance and earnings, but he was committed to highest standards of corporate governance, Nilekani added.

Nilekani, one of Infosys’ seven founders and also a former CEO, was named chairman late Thursday as part of a board shakeup aimed at putting to bed a months-long bitter dispute between key founder Narayana Murthy and the board over alleged corporate governance lapses.

Vishal Sikka, the first non-founder CEO of Infosys, stepped down last week blaming Murthy for creating an “untenable atmosphere”, sparking a sell-off in Infosys shares and wiping billions of dollars off the company’s market value. Reuters

(PTI contributed to this story)

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