Last Updated IST
Murthy, along with other co-founders Nandan Nilekani and S Gopalakrishnan are believed to have written to Infosys board asking why Sikka's compensation was raised and hefty severance packages offered to two top-level executives who quit the company. Sikka was paid Rs 48.7 crore in base salary, bonus and benefits last year as compared to base salary of Rs 4.5 crore for a partial period in 2015. Reuters file photo
Justin Leverenz, a portfolio Manager of Oppenheimer Developing Markets Fund, has written an open letter to the Infosys board, saying, “We would strongly encourage the Board of Directors to restrain divisions in the firm and contain inappropriate interventions by non-executive founders.”
Expressing faith in the leadership of CEO Vishal Sikka, Leverenz said, “Let Vishal do what he was hired to do, without distractions. And appraise him on his efforts.”
“After many years of internal volatility and competitive underperformance, it is encouraging to see that Vishal has stabilised the core and articulated a clear — and appropriate — long-term strategy to help Infosys thrive amidst industry disruption,” he said.
Oppenheimer Fund acts as investment adviser to certain investment funds and accounts that collectively own approximately 2.7% of the capitalisation of Infosys, valued at $923 million currently.
“We have been significant investors in Infosys for more than a decade. During this period, we have witnessed patches of unusual turmoil in management and vision at Infosys, with share price performance signalling shareholder exhaustion with internal dissonance, management volatility and internal intrigue,” he added.
He said the Fund is enormously pleased to see the stabilising hands of Sikka, who has improved underlying operating performance and begun to articulate a coherent strategy.
Expressing faith in the leadership of CEO Vishal Sikka, Leverenz said, “Let Vishal do what he was hired to do, without distractions. And appraise him on his efforts.”
“After many years of internal volatility and competitive underperformance, it is encouraging to see that Vishal has stabilised the core and articulated a clear — and appropriate — long-term strategy to help Infosys thrive amidst industry disruption,” he said.
Oppenheimer Fund acts as investment adviser to certain investment funds and accounts that collectively own approximately 2.7% of the capitalisation of Infosys, valued at $923 million currently.
“We have been significant investors in Infosys for more than a decade. During this period, we have witnessed patches of unusual turmoil in management and vision at Infosys, with share price performance signalling shareholder exhaustion with internal dissonance, management volatility and internal intrigue,” he added.
He said the Fund is enormously pleased to see the stabilising hands of Sikka, who has improved underlying operating performance and begun to articulate a coherent strategy.
Deccan Herald is on WhatsApp Channels | Join now for Breaking News & Editor's Picks