Diabytes
Vishal Sikka News
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Sikka had resigned as CEO and Managing Director effective August 18, 2017 and as Executive Vice Chairman effective August 24.
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Infosys said in a statement on Wednesday it had applied to the Securities and Exchange Board of India as it wanted to resolve allegations, including issues related to not seeking the prior approval of the nomination and remuneration committee and disclosures relating to the payout.
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As the CEO, Parekh will have to achieve growth while being careful not to antagonize Infosys` founders
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He was considered a key figure in Sikka's plan to drive technology transformation at the Bengaluru-headquartered company.
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Infosys Senior Vice President Sanjay Rajagopalan has resigned from his post, a month after Vishal Sikka stepped down as the company's MD and CEO.
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Nilekani, along with family, has offered to tender 58 lakh shares. Murthy, along with wife Sudha and two children, has put over 54 lakh shares on the block.
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Infosys Foundation is the philanthropic arm of the of the IT services company.
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The founders, led by N R Narayana Murthy, had alleged corporate governance lapses at the country's second-largest software services firm.
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The stock jumped 3.14 per cent to close at Rs 941.15 on the BSE. During the day, it went up 4.49 per cent to Rs 953.50.
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The stock had underperformed the market over the past one month till 24 August 2017, falling 8.18 percent compared with 2.43 percent decline in the Sensex.
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Terming the return of Nandan Nilekani as Infosys` Board Chairman an excellent idea, Sikka said the latter was an extraordinary leader and an iconic man.
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Hours after taking charge at Infosys, Nandan Nilekani on Friday described N R Narayana Murthy as an iconic figure who he said helped the company set high standards of corporate governance.
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HPE is an American multinational enterprise information technology company based in Palo Alto, California, founded on 1 November 2015 as part of splitting of the Hewlett-Packard company.
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Technocrat Vishal Sikka termed his dramatic resignation as CEO of the global software major Infosys as one of the hardest decisions of his life.
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On the National Stock Exchange (NSE), the stock closed 2.09 per cent higher at Rs 911.50. During the day, the scrip had touched a high of Rs 918.25 and a low of Rs 902.35.
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Shares in Infosys rose for a third straight day on Thursday, following reports that former Chief Executive Nandan Nilekani could return to the board to help the software services exporter ride out its latest controversy.
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The IT major had slipped out of the list yesterday amid extreme weakness in the stock following the sudden exit of its CEO Vishal Sikka.
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Infosys' ex-CFO V Balakrishnan on Wednesday favoured bringing in Nandan Nilekani as the chairman of the company, saying his experience and understanding of clients made him a "good face" to lead the organisation in the current situation.
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As a leadership crisis continues at Infosys, an investor advisory firm today said the IT firm's founders have not always been in sync with each other and N R Narayana Murthy's public criticism of the management may not necessarily represent that of the entire promoter group.
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