Press Esc to close

Investors seek return of Nilekani on Infosys board

Furquan Moharkan, DH News Service, Bengaluru, Aug 24 2017, 1:44 IST
Nandan Nilekani

Nandan Nilekani

In a fresh twist to the Infosys saga, domestic institutional investors (DIIs), which hold a significant stake in the IT major, on Wednesday called for bringing back Nandan Nilekani, co-founder and former CEO & MD of the company on its board in a suitable position.

The development came even as the company’s co-founder N R Narayana Murthy postponed his conference call with the investors to August 29 citing ill health.

The investors that include Franklin Templeton, IDFC AMC, DSP Blackrock Investment Managers, SBI Life Insurance, Birla Sunlife, ICICI Prudential Life Insurance, SBI Funds Management, Kotak Mahindra Asset Management, HDFC Asset Management, HDFC Life Insurance, ICICI Prudential AMC, Reliance NipponLife AMC wrote a common letter addressed to the Chairman and Co-Chairman of the IT company, asking them to bring back Nilekani on the board.

Although the investors have not specified the exact role for Nilekani, one of the signatories said that they are looking at him in a mentorship role at the firm.

However, Nilekani, despite repeated calls from DH, did not respond.

“Nandan is too big a guy to look after day-to-day affairs of the company at this stage. He won’t come back to run the company. The best would be if he comes back as a mentor,” one of the signatories of the letter, not wishing to be named, told DH.

The signatory further added that the institutional investors, who have given thumbs-up to Vishal Sikka’s tenure as MD and CEO at the IT major, said that they are looking at Nilekani as a most suitable option at this stage.

*N R Narayana Murthy postpones his conference call with investors citing ill health.
*DIIs write a letter to the Infosys Board seeking the return of Nandan Nilekani on the board
*Company's shares saw an upward movement following the fresh development.

Go to Top

More from this section
Photo Gallery
Cricket icon Sachin Tendulkar met members of the Indian Womens cricket team at the MCA BKC...

Cricket icon Sachin Tendulkar met members of the Indian Womens cricket team at the MCA BKC...

Union Minister of Commerce and Industry, Suresh Prabhu joins hands with ASEAN Ministers...

Union Minister of Commerce and Industry, Suresh Prabhu joins hands with ASEAN Ministers...

Karni Sena activists demonstrate against the release of Padmaavat, in Bhopal...

Karni Sena activists demonstrate against the release of Padmaavat, in Bhopal...

The tableau of Gujarat for the Republic Day parade, during a press preview in New Delhi...

The tableau of Gujarat for the Republic Day parade, during a press preview in New Delhi...

An artist of J & K tableau for the Republic Day parade, during a press preview in New Delhi...

An artist of J & K tableau for the Republic Day parade, during a press preview in New Delhi...

Jana Sena Party chief and actor Pawan Kalyan offers sweets to his wife Anna Lezhneva before...

Jana Sena Party chief and actor Pawan Kalyan offers sweets to his wife Anna Lezhneva before...

The tableau of Maharashtra for the Republic Day parade, during a press preview in New Delhi...

The tableau of Maharashtra for the Republic Day parade, during a press preview in New Delhi...

A woman shows the damage at her house after heavy shelling from the Pakistani side of the...

A woman shows the damage at her house after heavy shelling from the Pakistani side of the...

School students wear the customary yellow dress for Basant Panchami ...

School students wear the customary yellow dress for Basant Panchami ...

Police personnel guard as Buddhist monks wait at the entrance gate to enter Mahabodhi temple...

Police personnel guard as Buddhist monks wait at the entrance gate to enter Mahabodhi temple...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.