Phaneesh Murthy de-boarded from iGate

Phaneesh Murthy  de-boarded from iGate

 iGate on Monday said that a majority of the shareholders of iGate Corporation removed Phaneesh Murthy for “cause” from the Board of Directors by written consent.

Murthy’s removal is effective June 7, 2013. “Murthy’s removal was not due to a disagreement with the Company on any matter relating to the Company’s operations or practices. Rather, the shareholders determined that it was in the best interests of the Company to remove Murthy from the Board of Directors for “cause” because he engaged in conduct detrimental to the Company, including without limitation, violating Company policy and breaching his duty of good faith in his dealings with the Board of the Directors,” iGate said in a recent SEC filing.

iGate had announced on May 20 that it terminated the employment of President and CEO Phaneesh Murthy as a result of an investigation by outside legal counsel, engaged by the Board, of the facts and circumstances surrounding a relationship Murthy had with a subordinate employee and a claim of sexual harassment.

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