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Upset by Infosys board's charges, will respond at right time: NR Narayana Murthy

Murthy said his concern primarily was the "deteriorating standard" of corporate governance at Infosys.

Published: 18th August 2017 05:22 PM  |   Last Updated: 18th August 2017 05:22 PM   |  A+A-

Infosys co-founder Narayana Murthy.

By PTI

NEW DELHI: Infosys co-founder NR Narayana Murthy today said he is not seeking "any money, position for children, or power", while expressing anguish over the board's allegations that his "continuous assault" led to Vishal Sikka quitting as CEO.

Murthy, who has been in a long-running battle with the board and top management of the company he founded with six others over three decades, said his concern primarily was the "deteriorating standard" of corporate governance at Infosys.

He also questioned the investigations that cleared the technology major of all charges of mismanagement.

In a surprise announcement, Infosys today said Sikka has quit as CEO after nearly three years at the post.

It issued a strongly-worded statement earlier in the day blaming Murthy's "continuous assault" as the primary reason for Sikka quitting as CEO.

The company's board alleged that Murthy has repeatedly made "inappropriate" demands, which are inconsistent with his stated desire for stronger governance and that his "campaign" has intensified over time.

"I am extremely anguished by the allegations, tone and tenor of the statements... I will reply to these allegations in the right manner and in the right forum and at the appropriate time," Murthy said in an emailed statement.

Murthy said several shareholders, who have read the whistle-blower report, had told him that an "impartial and objective investigation" is not held in the manner in which Infosys' probe happened.

"...several shareholders who have read the whistle-blower report have told me that it is hard to believe a report produced by a set of lawyers hired by a set of accused, giving a clean chit to the accused and the accused refusing to disclose why they got a clean chit!" Murthy quipped.

He further said: "They say that this is not the way an impartial and objective investigation should be held".

Infosys Chairman R Seshasayee responded to Murthy's allegations saying the suggestion that renowned law and audit firms will connive with the Board and overlook 'misdeeds' of the CEO and post a clean report, is "completely untenable".

Seshasayee and co-chairman Ravi Venkatesan, however, ruled out any legal action against Murthy.

 



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