Nilekani has these PLANS for Infosys!

Bengaluru, Aug 25: Nandan Nilekani, who returned as the Chairman of Infosys after founders staged a dramatic coup, today moved to allay investors and employee concerns, saying he will focus on putting in place a long-term governance structure, bring stability and repair relations with "valued iconic" founder NR Narayana Murthy. 

Hiring a new chief executive to replace first non-founder CEO Vishal Sikka, who resigned abruptly last week citing slander by founders, will be at the top of Nilekani's agenda as also would be examining various governance issues that have been raised in the past few months. 

Nilekani, 62, one of Infosys' seven founders and also a former CEO, spoke today to investors at conference calls, addressed the media and in between chaired his first board meeting, after which the company came out with a statement terming as "unfortunate" the past differences with Murthy. 

He said he has been brought back to the company because he has "a record of doing things in very different environments and doing it successfully. I also am here because, I believe in consensus building". 

Nilekani has been called in to steer Infosys after chairman R Seshasayee and three other directors quit, meeting the key demand of founder group led by Murthy. 

Articulating his goals, he said the "first (objective) is to bring in stability and make sure that all the stakeholders are aligned, be it board members or investors". 

The second, he said, is to immediately start the process of appointing a CEO for which a search agency has been appointed. 

"The third is to put a long term governance structure for the Board in place for which I am requesting the nominations committee to come up with a report by October," he said. 

Also, the next objective would be to review the strategy and present in October the future blueprint, he said, refusing to comment if Sikka's USD 20 billion revenue target by 2021 is under review. "We are doing complete strategy refresh." 

Nilekani said he represents 100 per cent of shareholders and wants to "make sure that relationship between the Board and Murthy, who is an iconic visionary and father of corporate governance, are established".

PTI