Deals
Billionaire Co-Founder Calls Off Battle With Infosys’ Board
- Narayana Murthy says he will ‘stop’ now he’s made his point
- Calls current chairman a man of the ‘highest integrity’
Vishal Sikka.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Billionaire Narayana Murthy is calling off his fight with the board of Infosys Ltd., saying he’s confident the IT giant he co-founded will deal with the concerns raised about corporate governance.
The conciliatory comments came after an intense confrontation that pitted the board, Chairman R. Seshasayee and Chief Executive Officer Vishal Sikka against a clutch of high-profile co-founders led by Murthy. Their apprehensions about management of Asia’s second-largest IT services company emerged last week, and included concerns over a spike in the CEO’s compensation and large severance packages for two departing executives.