Hailing the return of co-founder Nandan Nilekani at the helm of his troubled global software major, Infosys founder N R Narayana Murthy on Saturday hoped ‘Acche Din’ (good days) would be back at the $10 billion IT behemoth.
“I wish Nandan the best of everything in his effort to bring back ‘Acche Din’ to Infosys,” said Murthy, 70, in a statement to global institutional investors in a conference call here.
Nilekani, 62, took over as non-Executive Chairman of the Board on August 24 after previous Chairman R. Seshasayee resigned along with Co-Chairman Ravi Venkatesan, Vice-Chairman and former CEO Vishal Sikka and Independent Directors Jeffery Lehman and John Etchemendy.
“At this critical juncture, I am pleased that Nilekani has taken over as the Chairman representing all shareholders. I have known him for over 38 years ever since he walked into my office (Patni Computers) for a job in 1981. I gave him a very difficult IQ test and he passed it with flying colours,” recalled Murthy.
Terming Nilekani a value-based person also, he said he was the first among the hundreds of thousands of professionals who symbolised Infosys’ mantra – “Powered by Intellect, Driven by Values”.
“I am confident that the management team and the professionals at the company will rally behind Nilekani and bring back the glory days. Infoscions are second to none in competence and character. Given the right environment, encouragement and leadership, they can walk on water,” he said.
Noting that the Board’s rejuvenation had begun with the resignation of Seshasayee and four other members, Murthy said it was still work in progress for restoring the company’s reputation and credibility.
“Having worked with Nilekani for long, I know that he is a stickler for good corporate governance. We can all sleep better knowing that, under his leadership, the corporate governance standard practised by the company will be on par with the global best standard.”
Expressing confidence that Nilekani would determine whether some members of the Board who were involved in events alleged by the whistle-blower exercised their expected role in governance, Murthy said he was sure Nilekani would take appropriate corrective actions.
“These actions will bring back the rigour of governance standards at the Board. I also reiterate my confidence in the management, which has excellent people with whom I have worked. I know the company is in good hands.”