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On how he will ensure client retention, top talent retention, and avoid any deviation in the transformation from legacy to digital, Nilekani says Infosys has communicated to its clients that the company now has a stable leadership in order to assuage concerns.
The new chairman says he has had a series of meeting with senior managements and vertical heads. “They are all going out with a clear upbeat message that the company is customer-focused. Today I did a video broadcast with all our employees, they are also enthused”
Nilekani reiterates that Infosys has formed a group with Ravi Ventakesan and DN Prahlad who will work with the CEO, CFO, business and delivery letters, anchored by strategy officer, who will over next 3-4 weeks, take stock of strategic initiatives initiated in the last few months. This strategy group will come out with a plan in October which will then be made public.
The #Infosys conference call to address global investors.https://t.co/ssOd4hajuH
— BloombergQuint (@BloombergQuint) August 25, 2017
#Infosys' @NandanNilekani outlines his key goals in response to @nsd308's question. https://t.co/YQqM4cMRmd pic.twitter.com/cw3iCSsog3
— BloombergQuint (@BloombergQuint) August 25, 2017
It has been less than 24 hours since I rejoined this company. It’s very premature for me to speak on strategy. Which is why I have asked the board committee to work on a report that we can discuss in the October meeting.
“I am not going to run this company based on comments on Twitter and TV. Ravi Venkatesan is a valued member of the board and he is here to help me.”
When asked if everything is “hunky dory” now as last Friday the board had a very different view on Murthy, Nilekani responds with a monosyllable, “Ya.”
When asked if the agreement to not disparage Vishal Sikka will impede the release of the Panaya investigation reports, Nilekani said, “I will, with the board’s support, take the right action. Leave it up to me.”
“I would like to believe that I’m here not just as a founder…. I’m also here because I believe I have a record of doing things in very different environment. I’m also here because I’ve had success in consensus building.”
The board believes it to be unfortunate that the various differences of opinion have arisen between Mr Murthy and the board in the recent past. The board wishes to express that it was not its intention to cause Mr Murthy or any other affected person any personal distress or anguish while stating its point of view.Nandan Nilekani, Non-Executive Chairman, Infosys
Our immediate priority is have stability and make sure management is back to doing what it should which is satisfying customers, transforming the company. In the last 24 hours we have taken a number of steps to reach those goals.Nandan Nilekani, Non-Executive Chairman, Infosys
I’m here representing everybody. I’m here representing the full board, all stakeholders.My goal is building consensus.Nandan Nilekani, Non-Executive Chairman, Infosys
A significant turnaround will only take place after the new CEO takes over, said Babu.
The Infosys ADR, traded in New York, ended Thursday’s session with gains of 1 percent.
Nothing will make me happier than putting things in a super stable, high growth path.Nandan Nilekani, Non-Executive Chairman, Infosys
The company’s previous board has faced several questions regarding the handling of the Panaya acquisition, with founder NR Narayan Murthy calling for the investigation reports on the issue to be made public.
“I like to believe that I am here as more than just a founder. After resigning from Infosys 8 years back, I have done fairly significant work. I was invited to the board by all parties and I assume people see me as a unifying and wholistic person and I believe I am. This is about consensus building.”
I have the full support of the board, of Mr Murthy, of all the promoters.Nandan Nilekani, Non-Executive Chairman, Infosys
It is important that the company focuses on its transformation and customer needs to re-establish its business growth, Nilekani said.
There’s tremendous opportunity to help incumbent companies stave off the challenge from new-age challengers.Nandan Nilekani, Non-Executive Chairman, Infosys
The new non-executive chairman made it clear that it was too soon for him to speak about the company’s earnings and guidance.
Very confident that we have a large pool of internal and external candidates for the CEO post.Nandan Nilekani, Non-Executive Chairman, Infosys
“I’m a big believer in corporate governance standards”, said Nilekani, assuring investors that his focus will be on putting an effective management team in place. “This board will practice the highest standards and fiduciary responsibilities and also, we will consult with all stakeholders,” he added.
As non executive chairman I would be responsible for board oversight, governance and functioning.Nandan Nilekani, Non-Executive Chairman, Infosys
Personally if you ask me, Ravi has been a big let down. He should not have allowed that press release on Murthy to go to the stock exchanges and belittle him. Murthy is iconic and the best business leader this company has ever produced. Belittling him in public by sending such a press release is a big let down. Ravi should not have been in the board. Nandan has to take the call now in the best interest of the company.V Balakrishnan, Former CFO, Infosys
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