Infosys stable and on verge of something momentous: Nilekani

Infosys faced months of protracted standoff between its founders led by NR Narayana Murthy and the previous management over issues of corporate governance and compensation to former executives.

By PTI  
Sunday, June 24, 2018

Infosys Non-Executive Chairman Nandan Nilekani on Saturday said the company has taken several steps during the year to remedy the concerns raised on the matter of stability and is on the verge of something momentous.

"When I stepped for the second time into Infosys in August last year, one of the concerns that you raised was about the company's stability. We have taken several steps during the year to remedy this," he said at the company's 37th Annual General Meeting.

"We have a very stable management team and board, and everybody is united, and agrees that we are really on the verge of something momentous. The focus is now on relentless execution," he added.

Infosys faced months of protracted standoff between its founders led by NR Narayana Murthy and the previous management over issues of corporate governance and compensation to former executives.

The tussle had led to the sudden resignation of the then CEO Vishal Sikka in August last year, followed by R Seshasayee and some other directors.

Speaking at the AGM, Nilekani assured that the company would spare no effort to do all it can to realise its aspirations, with the generous support of all stakeholders and his colleagues on the board.

It was the resilience of this team that helped Infosys get through some rather testing times in the year gone by and helped it deliver strong financial performance, he said.

"I am grateful for this and for the privilege and opportunity to serve this iconic company once again," he added.

Nilekani further said even as the company brings in new digital capability to its landscape, it also has a gameplan to bring its traditional core systems into the modern era.

Hence, he said a very important aspect of the company which it is doing is energising the core for its clients in as big a way as it is powering its digital transformation.

The company has evolved from leveraging classic software development methods to approaching software creation in more agile and digital ways, Nilekani said.

Related Stories

Wipro bags over $1.5 billion deal from US-based Alight Solutions
Wipro bags over $1.5 billion deal from US-based Alight Solutions
Wipro to shift all Bengaluru employees to new 50-acre campus in 2 years
Wipro to shift all Bengaluru employees to new 50-acre campus in 2 years
Infosys CEO Salil Parekh bets on company's robust balance sheet to plan big acquisitions
Infosys CEO Salil Parekh bets on company's robust balance sheet to plan big acquisitions

Latest Stories

HMD Global's Nokia 6.1 Plus to go on sale today via Flipkart
HMD Global's Nokia 6.1 Plus to go on sale today via Flipkart
Xiaomi Mi A2 Red edition to go on sale today via Amazon, mi.com
Xiaomi Mi A2 Red edition to go on sale today via Amazon, mi.com
IRCON IPO subscribed 9.85 times; may fetch govt Rs 466 crore
IRCON IPO subscribed 9.85 times; may fetch govt Rs 466 crore
SPONSORED