Nandan Nilekani, one of the most high-profile founders of Infosys, is most likely to make a comeback to the IT firm as its head post sudden exit of CEO and MD Vishal Sikka. However, exact clarity about the nature of his role will be made in the next 48 hours, as per media reports.
Meanwhile, an investor advisory firm has favoured Nandan Nilekani being brought back on its board as its non-executive chairman.
The Institutional Investor Advisory Services (IiAS) said the Infosys board has been “unable to protect its CEO” and to select a successor it must begin by “reinventing itself”.
Even Infosys’ ex-CFO V Balakrishnan on Wednesday favoured bringing in Nandan Nilekani as the chairman of the company, saying his experience and understanding of clients made him a “good face” to lead the organisation in the current situation.
“It must convince Nandan Nilekani to join the board once again, as its Non-Executive Chairperson,” it said in a report, while adding that Nilekani should not see this as any other corporate job as Infosys is at the heart of Indian IT and its success will foretell how the sector will position itself for the future.
Nilekani was one of the seven founders that set up Infosys more than three decades ago and served as its CEO between March 2002 to April 2007.
Sikka was brought in as the companys first non-founder CEO in June 2014, prior to which the position was held by one or the other founder. Corporate governance experts and market analysts blamed the recent spat between Infosys founders and management for the resignation.
The board and Vishal Sikka have spent considerable amount of time addressing the concerns – to a point where the company, in its 20-F filing, disclosed distractions from activist shareholders as a possible risk to achieving the companys strategic goals, the report said.
According to IiAS, Nandan Nilekani is possibly the very best candidate Infosys can find globally.
Source: Zee news