Murthy: I'm distressed by what's happening at Infy
The issue isn't with Vishal Sikka but with the standard of governance at the board. It has slipped,“ said N R Narayana Murthy , co-founder and first chairman of Infosys, who on with his family , is the single largest shareholder (3.44%) in the company .
There has been intense speculation that the founders are at odds with the board and have red-flagged governance issues over the last year. TOI, in its editions of Fe bruary eight and nine, carried reports detailing varied flashpoints between the founders on one hand and chief executive officer Sikka and the board on the opposite.
“When David Kennedy (former legal & compliance head who quit recently) was appointed, it appears no one ... asked is it normal at data sys to settle for twelve months as severance pay , when the norm is three months? It is the work of the chair of the remunerations committee to try to to that.When former chief financial officer Rajiv Bansal left, should he have got thirty months' pay?“ aforesaid Murthy . Infosys's single largest sha reholder, N R Narayana Murthy , on Thursday told TOI he was involved at the impact of hefty payouts for some senior executives on worker morale.
“What kind of signal does this send to staff? such a big amount of employees at senior, middle-level and junior levels at Infosys ar sad .I have received over 1,800 emails from various staff expressing their unhappiness at this state of affairs. The common question they have all asked me is, if it is fair that they got solely eightieth of the variable a part of compensation whereas someone United Nations agency has left the corporate is given 100% variable for consequent 2 years when going away. These are a set of the governance problems,“ he said.
Murthy said Infosys wants to address such problems that have brought down the morale of staff. He admitted that he was distressed at what's happening at Infosys. “So many of North American country ex-Infoscions United Nations agency have spent decades of our lives building this establishment with values and a culture of fairness feel dangerous,“ he added.
Infosys, Murthy had claimed earlier, was like his middle child -born when female offspring Akshata and before son Rohan. People shut to him say that he is terribly disturbed concerning the fate of his mid-born. While Infosys on Th stoutly defended each its chief executive officer Sikka and chairman R Seshasayee, the founders are aforesaid to be of the read that the company wants a replacement chairman or a minimum of a co-chairman who's a lot of in tune with the “ethos of the company“ as Sikka being a soul and a newcomer to Infosys wants higher mentoring by the board.
There has been intense speculation that the founders are at odds with the board and have red-flagged governance issues over the last year. TOI, in its editions of Fe bruary eight and nine, carried reports detailing varied flashpoints between the founders on one hand and chief executive officer Sikka and the board on the opposite.
“When David Kennedy (former legal & compliance head who quit recently) was appointed, it appears no one ... asked is it normal at data sys to settle for twelve months as severance pay , when the norm is three months? It is the work of the chair of the remunerations committee to try to to that.When former chief financial officer Rajiv Bansal left, should he have got thirty months' pay?“ aforesaid Murthy . Infosys's single largest sha reholder, N R Narayana Murthy , on Thursday told TOI he was involved at the impact of hefty payouts for some senior executives on worker morale.
“What kind of signal does this send to staff? such a big amount of employees at senior, middle-level and junior levels at Infosys ar sad .I have received over 1,800 emails from various staff expressing their unhappiness at this state of affairs. The common question they have all asked me is, if it is fair that they got solely eightieth of the variable a part of compensation whereas someone United Nations agency has left the corporate is given 100% variable for consequent 2 years when going away. These are a set of the governance problems,“ he said.
Murthy said Infosys wants to address such problems that have brought down the morale of staff. He admitted that he was distressed at what's happening at Infosys. “So many of North American country ex-Infoscions United Nations agency have spent decades of our lives building this establishment with values and a culture of fairness feel dangerous,“ he added.
Infosys, Murthy had claimed earlier, was like his middle child -born when female offspring Akshata and before son Rohan. People shut to him say that he is terribly disturbed concerning the fate of his mid-born. While Infosys on Th stoutly defended each its chief executive officer Sikka and chairman R Seshasayee, the founders are aforesaid to be of the read that the company wants a replacement chairman or a minimum of a co-chairman who's a lot of in tune with the “ethos of the company“ as Sikka being a soul and a newcomer to Infosys wants higher mentoring by the board.
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