Infosys: Nandan Nilekani Returned as the Chairman of the board– On Thursday night Nandan Nilekani appointed as the chairman of the board in Infosys. 36 years before Nandan Nilekani co-founded Infosys with six other founders. He was stepped down as ex-CEO of the company decade before. He served as Infosys’s CEO during 2002 to 2007. Nandan succeeded NR Narayana Murthy in March 2002 and Kris Gopalakrishnan succeeded Nandan in 2007. Right now Infosys declined about the tenure of Nilekani’s appointment.
Nilekani said “I am happy to return to Infosys. Now in the role of non-executive chairman, I am looking forward to move with my colleagues on the board. We are able to see the business opportunities and will deliver the benefits to our clients, shareholders, employees and communities. I thank Vishal for his service as the CEO of Infosys over the last three years and wish him well for his future endeavors.”
Infosys Limited (Formaly Known as Infosys Technologies Limited) is an Indian multinational enterprise that gives business counseling, data innovation and outsourcing administrations. It has its home office in Bengaluru, India. Infosys is the second-biggest Indian IT firm by 2016 incomes. On January 12, 2017, its market capitalisation was $34.38 Billion.
The organization changed its name to Infosys Technologies Private Limited in April 1992 and to Infosys Technologies Limited when it turned into an open constrained organization in June 1992. It was later renamed to Infosys Limited in June 2011
Nandan Nilekani back at Infosys, named as Chairman of Board
The buzz about his return hiked Infosys employees and his investor’s confidence. The company stocks were lifted by 3% on Wednesday and another 2% per cent on Thursday.
After Vishal Sikka’s resignation, the company found itself standing at the crossroads with plenty of uncertainty, forcing several institutional investors to step in and persuade Nilekani to return
Company CEO Vishal Sikka resigned on Friday. After his resignation from the post of CEO, Vishal was appointed as executive vice-chairman last week; he stepped down from this post also. Continuing the event R. Seshasayee has resigned as non-executive chairman. Ravi Venkatesan has also stepped down from his position as co-chairman but Mr. Ravi will retain his seat on the board as an independent director. U.B. Pravin Rao will continue to serve as interim CEO.
Nandan Nilekani To Lead Infosys As Chairman, 4 Board Members Quit
Mr. Nilekani is expected to take charge to find out best suitable person for its next CEO of Infosys. He will also reconstitute the board of the company.
Seshasayee said “Nandan is an ideal leader for Infosys. In this crucial time his leadership will take company to a great height. His appointment will allow Infosys to focus on the strategic changes in order to capitalize on the attractive opportunities in the years ahead. His past experience with the same company, touch with existing senior employees and cordial relationship with founders would help bring stability in stability in management and improve the overall performance. Under Nandan supervision, Infosys will build a strong bonded management team that will take the company to a new position in the industry. I believe these reforms will increase the confidence among the stakeholders to pave their transition plan and strategy for the future investments.”