Mumbai, Aug 24 (Deccan Chronicle): Infosys on Thursday appointed Nandan Nilekani, the co-founder and former CEO of the company, as the non-executive chairman of the board.
Nilekani's return to Infosys follows the resignation of chairman R Seshasayee, co-chairman Ravi Venkatesan and executive vice-chairman Vishal Sikka. Mr. Venkatesan will however continue on the Board.
On his return to the company, Nilekani said: “I am happy to return to Infosys, now in the role of non-executive chairman, and look forward to working with my colleagues on the Board and in executive management on the business opportunities we see before us and delivering benefits to our clients, shareholders, employees and communities. I thank Vishal for his service as the CEO of Infosys over the last 3 years and wish him well in his future endeavors".
In welcoming Nilekani, the outgoing Chairman R Seshasayee, said, “Nandan is the ideal leader for Infosys at this stage in the Company’s development. His appointment will allow Infosys to focus on the strategic changes it needs to make in order to capitalize on the attractive opportunities in the years ahead".
Others like Sikka, Jeffery S Lehman and John Etchemendy, who also resigned on Thursday, welcomed Nilekani to the board.
The latest development comes amid a high-profile corporate drama that ensued after Sikka resigned as the CEO, citing "malicious attacks". The company board had backed Sikka and lashed out at founder Narayana Murthy for his relentless "assaults" against Sikka.
Founders and employees had all been rallying for Nilekani's return to the IT major. Former CFO V Balakrishnan had favoured bringing in Nilekani as the chairman of the company, saying his experience and understanding of clients made him a "good face" to lead the organisation in this tumultuous situation.
Shares of Infosys on Thursday had surged by nearly 3 per cent on stock exchanges amid reports that Nilekani may come back to the board of the IT major.
Immediately after joining, Nilekani stated that the company board will actively consider a "broad based shareholder consultation process" as a significant part of its overall engagement initiatives with all the stakeholders of Infosys.
Nilekani had taken office as CEO of Infosys in March 2002 and served till 2007. He is one of the seven founders of the technology giant.