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BANGALORE, INDIA: The dramatic exit of Infosys CEO Vishal Sikka which led to a bitter tussle between the board and the co-founder NR Narayana Murthy has kept all eyes set on the company for the past two weeks.
Now, as the dust started to settle a bit after the much-anticipated comeback of Nandan Nilekani at the company's helm, Murthy once again pointed his fingers at the poor governance practised by the previous board during an investor call in the evening yesterday.
"Keeping quiet may make me seem gentle and “good”, it had the potential to mortally wound the company in the long-term. Therefore, I chose to speak up and question," said he.
He said he is hurt by "personal attacks" instead of looking at the facts. "My actions always keep in mind the long-term interests of all shareholders. It has never been and never will be for my individual or personal gain."
Murthy said the former chairman R Seshasayee lied about the reasons for excessive severance money(Rs 17.38 crore) paid to the former CFO, Rajiv Bansal. He also quoted a whistle-blower's allegation in this regard: "In the AGM in July, Seshasayee lies about the reason for payments made to the ex-CFO claiming it was made in consideration of his long service and to protect the company from its secrets being compromised. In reality, it was paid to protect to the secrets of the CEO and the Board.”
Seshasayee told that the board agreed to pay this sum because they felt generous and he was even told to sign an NDA in case he wants to know the reason, said Murthy. The board was not being transparent and was, perhaps, misleading, claimed he.
However, he reasserted his confidence in Nilekani saying that he is a stickler for good corporate governance and he is hopeful that Nilekani will be able to bring back 'Acche Din'(good days) to Infosys.
"Now, we can all sleep better knowing that, under his leadership, the corporate governance standard practised by Infosys will be on par with the global best standard."
"I am confident Nandan will determine whether the members of the current Board who were involved in the events alleged by the whistle blower exercised their proper and expected role in governance; and that he will take appropriate corrective actions. These actions will bring back the rigor of governance standards at Infosys," added he.
In fact, Murthy believes that with the recent changes in the board the corrective actions have already begun.