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.
Nadella advised the start-up community to learn from the failures
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.
Co-founder Nilekani could take the role of non-executive chairman, becoming a bridge between the board and Murthy, reports Ayan Pramanik.
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
The company has decided to consolidate its delivery functions horizontally
Parekh in a video address to employees expressed delight on leading the iconic company
Delaying action on climate change will hurt growth: Global CEOs.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
Infosys new chief executive officer and managing director Vishal Sikka took charge of the company in August.
Pharma was the top losing index amid worries about their earnings outlook with Lupin down over 4%
Key events that rocked India Inc in 2014 and one of them is Vishal Sikka taking over reins at Infosys.
Even as high attrition rates continue to haunt Infosys, the country's second-largest IT services firm is confident of bringing it down to 12-14 per cent in the next two quarters as it gets back to the growth trajectory.
'It is not that the H1B visa employees are coming in to displace jobs.'
Company to set up task force to implement 2,000-plus ideas it has received.
Restricted stock units can be an effective tool to curb employee attrition and retain key talent
The new CEO's next challenge is to grow margins.
The results will give an indication whether Nilekani would continue with the software plus services strategy adopted by Sikka, or tweak it to reflect his worldview of the explosion in data.
Firm's dented image following Sikka's exit could bring down revenues in the margin rich US market and force Infy to hire fewer Americans, as hiring locals in developed markets comes at a cost.
Stating that he has no intention to become CEO of the company, he said the future strategy of Infosys will be aligned with global developments and he sees tremendous opportunity in software data and machine learning.
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.
Junking Murthy's claims, Infosys said the board did all it could to look into whistle-blower complaints of corporate governance lapses, particularly those related to acquisition of Panaya.
'After some time, they all want to know what is happening in their companies.' 'It is better they remain board members rather than talk outside.'
ESOPs allow employees to own equity in the company, which is seen as a morale booster for them.
David, is set to join Hewlett Packard Enterprise as a senior VP for Enterprise Services Delivery.
After removing Bell Curve model, company plans to do more periodic review of staff goals for facilitating continuous feedback.
Trade and economic issues, including visa, totalisation pact and impediments hampering investments, are likely to figure at Monday's US-India CEO Forum meeting, which will be jointly addressed by visiting US President Barack Obama and Prime Minister Narendra Modi.
Infosys, the country's second largest IT services firm, is open to 'bigger scale' mergers and acquisitions but with a caveat, it is not interested in "yesterdays" companies.
German Chancellor Angel Merkel, French President Francois Hollande, Chinese Prime Minister Li Keqiang, Pakistan Prime Minister Muhammad Nawaz Sharif and Switzerland President Simonetta Sommaruga would be participating in the 45th edition of the meet.
Prime Minister Narendra Modi and industrialist Mukesh Ambani feature amongst the most searched personalities online this year, according to search engine Yahoo.
Once the IT bellwether, Infosys was also reporting laggard performance and facing harassment allegations by overseas employees.
Also looks at setting up development and training centres in the US to tide over visa-related issues
Infosys has been struggling to revive high growth for two years.
The IT major had reported a net profit of Rs 3,398 crore in the year-ago period, it said in a BSE filing.
2019, however, will be a bigger test as the firm continues to deal with rising attrition and margin pressure.
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.
Sore points: Sikka's salary, high severance pay to executives, poor disclosures.
Infosys has been focusing on winning more lucrative digital technology and automation outsourcing contracts.
Infosys as working on becoming "independent of the visa issue" as much as possible and hire more locals
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