Nilekani must stay at Infy for 2-3 yrs, Ravi needs to go: ex-Infosys CFO
August 27, 2017  15:08
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Infosys ex-CFO V Balakrishnan has said new Chairman Nandan Nilekani should continue his stint for 2-3 years to chart out a proper succession plan and ensure that efforts of the company to be professionally-managed do
not "fail again".
Balakrishnan, who has been one of the most vocal critics flagging alleged erosion in corporate governance standards at Infosys, also stuck to his demand that co-chair-turned-independent director Ravi Venkatesan step down from the board.

"...it was a big experiment that happened in 2014 with professional board handling the company, CEO replacing the founders but because the Board has not functioned well, that experiment failed. So the experiment should not fail again," he told PTI.

Balakrishnan added that Nilekani should focus on getting a good chairman "whenever he leaves in the future" to ensure that the "Board is in safe hands".
"I think for 2-3 years he should be there because he has several things to do...Board recast, get a CEO, handhold him for sometime and create succession plan for chairman post. The (earlier) Board was weak, it was not able to communicate well... the Board was a big let-down," he said.
It has been two weeks packed with action and escalated tension for India's second largest software firm.
A year-long stand-off between the founders and the management culminated in the sudden resignation of CEO Vishal Sikka as well as that of Chairman R Seshasayee and two other board members.
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