As four founder families sold part of their Infosys holdings on Monday, CEO Vishal Sikka said monetisation of shares for philanthropic and entrepreneurship purposes was in line with the company's values.
The founders, who hold 12.75 per cent stake in Infosys, together with a dozen leading institutional investors with a cumulative stake of about 10 per cent forced the Infosys board to bring back Nilekani.
Narayan Murthy says the software industry has boosted the international image of India like no other sector.
Liz Truss, the British foreign secretary, who has a huge lead over her rival Rishi Sunak, seems a shoo-in to travel to Balmoral Castle in Scotland next week to meet Queen Elizabeth II, the first time ever the monarch will ask a politician to form a government away from Buckingham Palace, her home in London.
The Infosys saga shows how efforts to remote-control a company by its powerful promoter, even with good intentions, might hurt the entity, says Asish K Bhattacharyya.
Last year in January at Amazon's flagship event Smbhav, Infosys Co-founder N R Narayana Murthy had to shorten his keynote speech from 20 minutes to about five because the event was delayed by 1.5 hours. "I will try to finish it in five minutes, because I am not used to delays," said Murthy, while addressing hundreds of micro, small and medium enterprises (MSMEs) about building businesses that last. In the audience was Amazon founder Jeff Bezos. Murthy referred to Bezos' prediction that the 21st century will be the Indian century. "That confidence enhances our enthusiasm," said Murthy. The relationship between Murthy and Bezos dates to 2014, when Prione, a 49:51 joint venture (JV) between Amazon and Murthy's venture capital company Catamaran, was formed.
Their investments in start-ups exceed Rs 1,000 crore at present.
Fundraisers held in New York, San Francisco and Atlanta for India-based non-government organisation Akshaya Patra that strives for wholesome school kitchens is expected to raise a whopping Rs 5 crore in charities this year. Arthur J Pais reports
Infosys Chief Executive Officer-designate Vishal Sikka might be new to Indian information-technology (IT) services business, but his past credentials were enough for the company's shareholders to offer him a warm welcome at an Extraordinary General Meeting (EGM) that was called to seek approval for his appointment, among other things.
After auto makers, PSA Peugeot Citron and Ford, IT major Infosys Limited is vying for land in Gujarat. N R Narayana Murthy, chairman and chief mentor of the company, will meet Gujarat Chief Minister Narendra Modi on Tuesday to discuss setting up of a campus in the state.
"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.
Over the past few months, Infosys has been battling allegations by Murthy and other former senior executives of falling corporate governance standards.
Domestic traders body CAIT on Thursday claimed that e-commerce major Amazon's plan to acquire Prione Business Services - its joint venture firm with Catamaran - will be a violation of foreign direct investment policy. Amazon has said it will acquire Prione Business Services, subject to requisite regulatory approvals. In August, Amazon and NR Narayana Murthy's Catamaran had announced that they will not continue their joint venture Prione Business Services beyond May 2022.
Several observers have questioned the weakness in execution of the 3.0 strategy.
Proxy advisory firms say the praise on Twitter was uncalled for.
The report, published by brokerage firm Ambit Capital Research, also says the promoters hold disproportionately high board representation with respect to their total shareholding in the Bengaluru-based company.
The company might hire a foreigner chief executive officer for the first time.
Chandrashekar Kakal was operational head of the India business unit.
Karnataka police registered a case against the Infosys chief, while the state government condemned his remarks as an 'unpardonable offence.'
Providing an opportunity for the students to be with the country's renowned business personalities, the Hyderabad-based ISB has come up with the 'Shadow the CEO' programme, where one can bid for a person of their choice.
Infosys chief Narayana Murthy has emerged India's most admired business leader, ahead of late Reliance chief Dhirubhai Ambani, Azim Premji of Wipro and noted industrialist Kumarmangalam Birla, in a survey conducted among management students.
Spend on IT in US is expected to increase by 6.1 per cent in 2014.
Foreign institutional investors (FIIs) have continued to remain bullish on the Narayana Murthy-led Infosys, taking their holdings to record levels.
Last year, salary increases were given only in October, when the company came under pressure from increments offered by peers.
Infosys has has the highest proportion of non-independent directors on its board.
Senior exits and across the board attrition have started affecting the company's ability to grow business
India's corporate sector sees big ticket deals in 2013.
Recently, some software firms formed a separate body called the Indian Software Product Industry Round Table, or iSpirt.
Of the, four are co-founders of Infosys.
Software giant Infosys will scale up its operations, products and services drastically to emerge as a 'truly multinational corporate entity' in the next 25 years, its Chairman N R Narayana Murthy said.
Infosys Ltd's refocus on big-ticket contracts since the return of its founder has begun to pay off as India's No. 2 software services exporter crossed $2 billion in quarterly sales for the first time and pushed up its revenue outlook.
'There will only be an institutional solution between the board and the founders to take Infosys forward.'
This is the first time, perhaps, Infosys has appointed as CEO a person who has never managed P&L or has any experience in managing lakhs of employees.
