Active Stocks
Tue Mar 19 2024 13:31:02
  1. Tata Consultancy Services share price
  2. 4,013.00 -3.18%
  1. Tata Steel share price
  2. 150.00 0.27%
  1. Bharti Airtel share price
  2. 1,232.50 0.61%
  1. Power Grid Corporation Of India share price
  2. 259.95 -1.91%
  1. ITC share price
  2. 409.95 -1.78%
Business News/ Companies / News/  Replace Ravi Venkatesan, Roopa Kudva in Infosys board, says ex CFO V. Balakrishnan
BackBack

Replace Ravi Venkatesan, Roopa Kudva in Infosys board, says ex CFO V. Balakrishnan

Infosys chairman Nandan Nilekani should complete the board restructuring quickly, including replacing Ravi Venkatesan and Roopa Kudva, thereby providing a clean slate for CEO Salil Parekh, says former CFO V. Balakrishnan

The obvious challenge for Infosys CEO Salil Parekh is the changing technologies and commoditisation of traditional services, says former CFO V. Balakrishnan . Photo: BloombergPremium
The obvious challenge for Infosys CEO Salil Parekh is the changing technologies and commoditisation of traditional services, says former CFO V. Balakrishnan . Photo: Bloomberg

Hyderabad: As Salil Parekh took charge as CEO at Infosys, a former top company official has sought restructuring of the Board by replacing ex-co-chairman Ravi Venkatesan and ex-Audit Committee Chairperson Roopa Kudva.

“Nandan (Nilekani, the company’s Chairman) should also complete the board restructuring quickly including replacing the earlier co-chairman and audit committee chairman thereby providing a clean slate board for him (Parekh) to peform to his full capability without any distractions," former CFO, V Balakrishnan said.

Last month also, he had sought the discontinuance of Venkatesan and Kudva after Infosys filed a settlement plea with the SEBI on alleged corporate governance lapses relating to severance payment to its former CFO Rajiv Bansal.

“...It is all the more important to restructure the board and fill it with people of high integrity and stature," Balakrishnan had said. On opportunities and challenges for Parekh, Balakrishnan said on Wednesday he had a great opportunity to transform Infosys as he comes with a great pedigree and right background.

“His background as a services man with global consulting expertise fits him well for the job. He should make sure that he does not commit the same mistakes of the past management and stick to the core value systems which Infosys is known for which includes ‘under promise and over deliver’," he said.

The obvious challenge for Parekh is the changing technologies and commoditisation of traditional services which is an overall industry issue anyway, Balakrishnan said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 03 Jan 2018, 08:09 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie