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BRIEF-Infosys says Murthy's "continuous assault" primary reason for CEO Vishal Sikka's resignation
August 18, 2017 / 6:11 AM / 4 months ago

BRIEF-Infosys says Murthy's "continuous assault" primary reason for CEO Vishal Sikka's resignation

Aug 18 (Reuters) - Infosys Ltd:

* It has come to attention of board that a letter authored by Murthy, founder, has been released to various media houses

* “Murthy’s continuous assault, including this latest letter, is the primary reason that the CEO, Dr. Vishal Sikka, has resigned despite strong board support”

* “Murthy’s letter contains factual inaccuracies, already-disproved rumours” and “statements extracted out of context from conversations board”‍​

* Says “board declines to speculate about Murthy’s motive for carrying out this campaign, including the latest letter”

* “Murthy’s campaign against the board and the company has had the unfortunate effect to undermine the company’s efforts to transform itself”

* Board engaged in a dialogue with founder over course of year, to resolve issue ; dialogues have not been successful

* Says board currently has no intention of asking Murthy to play formal role in the governance of the organization

* Murthy’s letter attacks integrity of board and management of co alleging falling corporate governance standards in co

* Murthy may be in process of engaging in discussions with certain key stakeholders of co to further his criticisms of the board and management

* "Categorically rejects any speculation or allegation of discord" between the Infosys board and Sikka Source text: (bit.ly/2vOhLrq) Further company coverage:

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