Sexual harassment charge is fabricated: Phaneesh Murthy
In fact, while IT bellwether Infosys Technologies (his earlier employer) got a drubbing at the bourses for not posting "better than expected" results, iGate stumped investors a couple of days back by announcing it plans to buy back shares from the public and delist from the Indian stock markets, while remaining listed in the US.
He has to keep herd together, service massive takeover debt on Pat#8715 however, operational performance unlikely to be affected
IT firm iGATE on Thursday announced the successful completion of Patni acquisition and appointment of Phaneesh Murthy as CEO of Patni.
In an emailed exchange with Business Standard, iGate states the circumstances that led to Phaneesh Murthy's sacking.
Murthy is launching an online market place for healthcare products.
New Jersey bill repressive: Phaneesh Murthy
For iGate CEO Phaneesh Murthy, slipping into Patni's shoes as promoter of the company that bears the latter's name could prove one of the biggest challenges of his career.
In a discussion with Business Standard, Murthy shares the roadmap ahead.
iGate sacked Murthy for violating company policy on relationship with a colleague. Since his termination was for professional misconduct, he may end up losing the severance benefits.
The US-listed company, which has bulk of its employees in India, has appointed Gerhard Watzinger as interim chief executive with immediate effect.
California-based law firm, Aiman-Smith & Marcy, said that iGate's head of investor relations Araceli Roiz was pregnant with Murthy's child.
Satyam's director Tarun Das had earlier said that the company had been approached by Indian and international IT companies and that the board would decide on it. Reports have suggested that engineering major L&T has expressed interest in acquiring Satyam, while Tech Mahindra is interested in the telecom business of the Satyam group.
It will charge for results instead of basing fees on the time and labour.
Phaneesh Murthy, CEO, iGATE, is one of few businessmen who openly said Obama's re-election is not the best news for IT outsourcing industry.
Former iGate CEO Phaneesh Murthy, who was sacked by the US-based IT services firm for failing to disclose his relationship with a subordinate in May this year, has slapped the company with a law suit.
Head of Infosys' European arm, Srinjay Sengupta, has joined technology and operations firm iGATE Global Solutions as its chief sales officer, iGATE announced on Thursday.
The software major Infosys Technologies on Friday said it has been served with the notice in second sexual harassment lawsuit filed against the company and its former director Phaneesh Murthy during the quarter ending December 2003.
Obama on Wednesday won a second term in office overcoming a stiff initial challenge from his Republican challenger Mitt Romney.
Less than 1% cases in India are recorded as employers/owners usually sack the complainants; give negative feedback to the complainant during background checks.
Companies put in strict disclosure, job switch clauses in HR policies.
Legal fees in such cases can go up to Rs 5 crore.
A quick and decisive action in such incidents augurs well for the IT industry, feels the Nasscom Chairman.
This brand change is in line with the vision of 'one company'.
Indian IT companies have played a big role in making US companies more competitive and have created more jobs than taking them away.
The Nasdaq-listed company has announced increasing Murthy's annual basic salary from the present $530,000 million to $1 million, which along with the annual performance-based bonus opportunity of $500,000 million makes the total annual package to $1.5 million (about Rs 7 crore).
US-based iGate on Monday said it has acquired nearly 63 per cent stake in country's sixth largest IT firm Patni Computer Systems for $1. 22 billion.
For the quarter ended September 30, 2011, iGate Patni had 26,216 employees compared to 26,395 people in the previous quarter.
iGate Patni is all set to compete with the likes of IBM, Accenture, Infosys and Congnizant.
"Satyam will give us the scale. This will make us stronger," says Phaneesh Murthy, CEO of the Freemont (California)-based IT services provider, iGate Corporation, and one of the suitors of the beleaguered IT corporation.
Scam-tainted Satyam Computer Services has lost its value with customers moving out of the company, according to Phaneesh Murthy, chief executive of the US-based iGate Corporation.
The world economy has started showing signs of recovery but it will be a slow says Phaneesh Murthy, CEO, iGate Corporation.
iGate had in a statement on Friday evening said that it had dropped its bid for Satyam on 'further analysis'. Clarfying his stand last week that iGate would be keen to bid for Satyam at an offer price of below 90 cents a share, Murthy said, "Had we decided to pursue the bid, the share price would have had no bearing on our offer price as we would have bid at a price we thought was a fair valuation."
Software firm iGate on reported a 19.42 per cent decline in its revenue at $44.8 million in the first quarter of 2009.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances