BENGALURU: Software major Infosys will begin another round of meetings with its shareholders over the next few weeks under the chairmanship of Nandan Nilekani and is likely to come up with a complete report by the time the company announces its third quarter fiscal results in January next year.
“On the shareholders consultation, one round of meetings has happened with shareholders and we have paused that. Second round will start after our results and we expect to complete the shareholders outreach either through meetings or through online questionnaire,” Nilekani said at a recent investor call.
“We had also said that the Nominations and Remuneration Committee would present a long-term governance structure. They have presented a preliminary one in the board meeting today. We hope to have a final one by the time we meet in January,” he added.
Nilekani had taken over the reins of the embattled Infosys in August this year following months of acrimony between the founders and the then management team of CEO Vishal Sikka and Chairman R Seshasayee.
Founders, led by NR Narayana Murthy, had earlier this year questioned the company on a host of issues including whistleblower complaints of irregularities with Infosys’ $200-million Panaya acquisition and severance pay to former executives.
Murthy had demanded that the full report by Gibson, Dunn & Crutcher on whistleblower allegations pertaining to the Panaya deal be made public. This was one of the biggest reasons for the protracted face off between the founders and the management that eventually resulted in board overhaul in August this year.