Founders have made it very clear that their only interest lies in protecting core values of the company and do not have any interest in running the company, he pointed out.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
The new chairman of the country's second-largest IT firm acknowledged that he is an "admirer" of Murthy, saying the "iconic visionary" is the father of corporate governance in India.
Infosys announced acquisition of digital commerce company Kallidus for $120 million.
The time is ripe to accede to the founders' plea to declassify them as promoters.
The settlement with Sebi was seen as Infosys admitting guilt of the lapse, clearing out any legal or regulatory challenges and preparing ground for new chief executive officer Salil Parekh.
Also looks at setting up development and training centres in the US to tide over visa-related issues
The new CEO's next challenge is to grow margins.
New strategy for Infosys by October, says Nandan Nilekani. New chairman's other priorities: Hiring CEO, reviewing Panaya probe reports.
Murthy's charges, he said, are patently false and slanderous.
Erin Green, former head of immigration, Infosys says says only the loss of a big client could push Infosys to correct its internal corporate culture.
Company feels automation is a big tool to drive down costs and improve efficiency
While the framework of service delivery and client-focused approach remains unchanged, Nilekani's suggestions, of taking start-ups with newer technologies to clients, are being implemented.
Infy board gets law firm to probe 'lapses', appoints Cyril Amarchand Mangaldas to engage with founders.
Along with a robust set of numbers, the management too sounded confident of its growth prospects
Vishal Sikka who was made vice-chairman till his successor was appointed, also quit the board with immediate effect.
The Board rued that its efforts to resolve the concerns of the founders - who together own about 12.75 per cent stake in Infosys - over the course of a year through a dialogue have not been successful.
The catchwords today are digital, analytics, robotics.
"There was not a single decision that I took during my second tenure without discussing it with Ranga and getting valuable input from him," says Narayana Murthy.
The BSE Midcap and Smallcap indices have performed better than the front-liners
Sensex ended up 41 points at 29,136 and Nifty gained 4 pts to 8,809.
I have no hesitation to say that the cultural milieu is different, said chairman R Seshasayee in a rare media interaction.
Infosys, Wipro may follow suit as investors eye a piece of the large cash kitty as growth slows.
'Vishal Sikka may have realised that he was in no position to deliver on the promise Infosys made to its shareholders.' 'Perhaps he was looking for an escape route and he quit under the cover of "continuous drumbeats of distractions",' says Sudhir Bisht.
'The meanness of the board statement apart, it nowhere answers the most fundamental and damaging aspects of the deteriorating work culture among top company executives to which Narayana Murthy had been repeatedly drawing attention,' says B S Raghavan, the distinguished civil servant.
While recruitment is falling, the capabilities needed to land an IT job are stiffening.
The route to that target is clear in Sikka's mind.
Rahul is fascinated by history and ancient texts
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