Narayana Murthy. is VILLAIN of Infosys, alludes Sikka

National | Aug. 18, 2017, 8:43 p.m.

Bengaluru: Talking candidly after quitting global software major Infosys as its Chief Executive and Managing Director, Vishal Sikka on Friday said it was difficult to deal with unending allegations and said he has not decided his future plans yet.

"It was difficult to deal with continuous allegations and noise. At some point you realise it is taking a heavy toll on the company and also personally. It is an untenable situation," Sikka said from California via video conferencing.

In a dramatic development, Sikka resigned citing personal and negative remarks made against him.

His resignation was accepted and he was appointed Executive Vice-Chairman till a new CEO and MD takes over by March 31, 2018.

"As you know I started three years ago on this journey. Infosys is more than a company, it is an iconic institution," Sikka told the media.

Terming it a sad day for him, Sikka said in many ways his resignation would help things to improve in the company.

"I signed up for the technological change and got the company back to growth...I got to the point that was difficult to deal with. There was continuous noise about the same things over and over again," recalled Sikka.

Noting that he had no plans as of now, Sikka said he did not think on what he would like to do next after quitting Infosys.

"We came to the conclusion that I will stay on as Executive Vice-Chairman, help in transition with U.B. Pravin Rao as the interim CEO," he noted.

Admitting that the personal attacks had hit the morale of the employees, Sikka said over the last many months and quarters, the company had been besieged by false, baseless and malicious charges.

Sikka said he doesn't agree with the idea that the Board had let him down, "as it had done a phenomenal job".

Co-Chairman Ravi Venkatesan said the board had accepted Sikka's reasons for stepping down as the CEO.

"But the Board is committed to the strategic direction set by Sikka, who is a phenomenal guy, the world knows it. He has blossomed as a leader," Venkatesan told reporters at the presser.

Venkatesan also said the events that transpired in the last 48 hours have made it difficult for the Board to consider a permanent position for the company's founder N.R. Narayana Murthy.

"Succession planning is the top priority for the Board as it is crucial that the next CEO buys into the company's vision, culture and is people-oriented," asserted Venkatesan.

Company Board Chairman R. Seshasayee, who was with Sikka at Palo Alto in California, said he was not in contention for the role of Infosys CEO even in 2014, and he had no interest now.

"We thank Sikka for giving the company a new direction during his tenure," said Seshasayee.

The Chairman also clarified that there was no change in the company's buyback of shares.

"There is no change in buyback plans. We have made a commitment on how much and when to return cash to shareholders," said Seshasayee.

The Board is slated to consider the share buyback proposal on Saturday

IANS

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