As Salil Parekh, recently took control as CEO at Infosys, a former topmost company official has sought after rearrangement of the Board by replacing ex co-chairman Mr. Ravi Venkatesan and ex-Audit Committee Chairperson Roopa Kudva. Former CFO, V Balakrishnan said that Nandan Nilekani, the company’s Chairman should also finish off the board restructuring quickly which include changing the earlier co-chairman and audit committee chairman thus providing a clean slate board for Parekh to perform to his full capability without any interruptions.
In December also, he had pursued the discontinuance of Mr. Ravi Venkatesan and Roopa Kudva after Infosys filed a clearance plea with the SEBI on the suspected corporate governance delays relating to the compensation payment to its former CFO Rajiv Bansal. Balakrishnan further said on Wednesday on prospects and tests for Parekh that he had a great chance to transform Infosys as he has a great attitude and right background.
He further told PTI that his background in the service area with global consulting expertise makes him suitable for the job. But, he should make sure that he does not make the same mistakes of the past and stick to the core value systems which Infosys is known for that includes under promise and over deliver. Balakrishnan further added that the apparent challenge for Mr. Salil Parekh is the changing technologies and commoditization of the traditional services, which is an overall industry issue.
He also added that In view of the current development it is even more important to restructure the board and fill it with people of high honesty and stature. Mr. Balakrishnan, who is known to be a supporter of Murthy, said that the sarcastic communication to the stock exchanges who is blaming Infosys Co-Founder Mr. N R Narayana Murthy for all the board’s gaps was unique.