New Delhi, Oct 29 (PTI) Infosys will hold another roundof outreach to shareholders over the next few weeks under thechairmanship on Nandan Nilekani and expects to have a completereport by January next year.
Nilekani, the architect of Aadhaar, had taken over thereins of the embattled Infosys in August this year followingmonths of acrimony between the founders and the thenmanagement team of CEO Vishal Sikka and chairman R Seshasayee.
"On the shareholders consultation, one round of meetingshas happened with shareholders and we have paused that. Secondround will start after our results and we expect to completethe shareholders outreach either through meetings or throughonline questionnaire," Nilekani said at a recent investorcall.
He added that a full report is expected to be ready bythe time the company announces its third quarter financialresults in January next year.
"We had also said that the Nominations and RemunerationCommittee would present a long-term governance structure. Theyhave 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.
Founders, led by N R Narayana Murthy, had earlier thisyear questioned the company on a host of issues includingwhistleblower complaints of irregularities with Infosys' USD200 million Panaya acquisition and severance pay to formerexecutives.
Murthy had demanded that the full report by Gibson, Dunnand Crutcher on whistleblower allegations pertaining to thePanaya deal be made public.
This was one of the biggest reasons for the protractedface off between the founders and the management thateventually resulted in board overhaul in August this year.
Nilekani, who is also among the seven co-founders, begana round of consultations with clients and stakeholders todetermine the future course of action, after taking over asthe non-executive Chairman.
Infosys, which announced its second quarter earnings lastweek -- the first one after Nilekani took charge -- hashowever given a clean chit to the controversial Panayaacquisition, saying there was no merit in the allegations ofwrongdoing.
Infosys also asserted that its review had confirmed that"appropriate" and "timely disclosures" were indeed made onseverance payments to the former CFO.
The company also said its management team had undertakena comprehensive strategy review over the past weeks -- anexercise entailing a look at all programmes, acceleration ofexecution plans and prioritising key areas of investmentsacross services and software portfolios.
"An important outcome of the exercise is a reassertionthat our strategic direction will continue to be driven with aportfolio of market relevant design, consulting and technologyservices, enabled by software," Infosys has said. PTI SR MBIABM.
This is unedited, unformatted feed from the Press Trust of India wire.