Vishal Sikka tells Infosys workers not to be distracted by ‘gossip’
- Market Live: Sensex opens 100 points lower, Nifty trades near 10,200, banking stocks fall
- Facebook Building 8 head Regina Dugan leaves after 18 months
- Rupee opens marginally higher against US dollar
- North Korea says it plans to launch many more satellites
- Amazon Studio head Roy Price resigns after harassment scandal
New Delhi: Amid reports of tension between Infosys Ltd founders and its management, chief executive officer (CEO) Vishal Sikka has asked his employees not to get distracted by the speculations that question the company’s commitment to “governance, integrity and values”.
He asked the employees to keep a “sharp focus” on executing the company’s strategy, which is bolstered by its services like Mana, Skava, Edge, Panaya and cloud services. “...let us keep a sharp focus on the execution of our strategy. Let us not get distracted by media speculation that is designed to stir up gossip or rehash old rumours or speculate on the unknowns, around visas, or anything that questions our commitment to governance, integrity and values, in order to generate headlines and create, in the words of The Wire, Eardrum Buzz,” Sikka said in an internal mail.
“There is no second-guessing our deep commitment, passion and dedication to transforming this great company, even within the unprecedented new context that we find ourselves in. We are doing this. We will do this. Together!,” he said.
There have been reports of simmering differences between the CEO and its founders over issues like pay hike given to Sikka and severance package of two former senior executives.
Infosys has, however, defended itself saying all decisions were made “in the overall interest of the company” and that it has made “full disclosures” on all developments.
Infosys founders, along with their family members, owned 12.75% in the company at the end of December 2016, as per the data available on the BSE.
The buzz grew louder when Infosys’s former chief financial officer (CFO) T.V. Mohandas Pai said the board should give a detailed answer and not take shelter under “bland” statement that decisions were taken in the interest of the company.
Sikka said Infosys’s revenue growth, which previously underperformed the industry growth by 50% about two years ago, is now in line with the overall industry growth. “...we have held margins through operational efficiency improvements and automation benefits. Our cash flow generation continues to be amongst the strongest in the industry. And in a key sign of a thriving enterprise, our new software and services have seen tremendous growth,” he told the employees.
Infosys’s strategy is focussed on delivering higher value services and bringing the latest advances in technology into work.
“...we create unprecedented value for clients, employees, shareholders, and the larger global ecosystem in which we operate — including delivering value as one of the largest and most respected companies in India,” he said.