Phaneesh Murthy is credited for restructuring iGATE and helping the company to acquire Patni Computer Systems for 1.22 billion dollars. Patni Computer Systems is the former employer of Narayana Murthy.
Phaneesh Murthy is one of the rare IIT graduate engineers who were fired despite being hired with a massive salary. Phaneesh Murthy reached new heights with the IT boom in the country just like other IIT graduates during that time, however his story is a bit different from most IITians. Phaneesh Murthy had an annual salary package of around Rs 45 crore but he was fired by the organisation. Born in a middle class family in Bangalore, Phaneesh Murthy received B.Tech Degree in Mechanical Engineering from IIT Madras. After his graduation, he went on to receive PGDMgt from IIM, Ahmedabad. He began his career by working for Sonata Software after graduating in 1987. After working there for half a decade, he moved to Narayana Murthy’s Infosys. Over the years, he held various positions in the organisation before he departed after two women filed lawsuit against him.
Currently serving as a board member in several companies, Phaneesh Murthy’s overall compensation in 2012 was around Rs 45 crore before he was fired in 2013. He later went on to found Primentor and Quintant Services Limited. Soon Quintant was acquired by iGATE Global Solutions Limited and he joined the parent firm in August 2003. He is credited for restructuring iGATE and helping the company to acquire Patni Computer Systems for 1.22 billion dollars.
For those who are unaware, Patni Computer Systems is the former employer of Narayana Murthy and it was double the size of iGATE when it was acquired. The deal made iGATE one of the largest IT companies in India. Phaneesh Murthy was fired from iGATE after another lawsuit was labelled against him by a subordinate employee.
He is currently serving as the CEO of Primentor, a consulting agency that mentors senior executives to promote hyper-growth.
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