Murthy said Infosys should bring in 'some good people' like Marti Subramanyam as co-chair to the board.
Mired in controversy revolving around differences between founders and the management, founder of Infosys Narayan Murthy suggested that the company should rope in NYU Stern Professor Marti Subrahmanyam on the company board.
In an interview with Economic Times, Murthy stated that the company should take several initiatives to improve the trust of shareholders in the company and board. Amongst the various initiatives, the founder said that Infosys should bring in "some good people" like Marti Subramanyam as co-chair to the board and make DN Prahlad as the chair of the nomination and remuneration committee.
Murthy also said that the board should consult experts like Mohandas Pai, V Balakrishnan, Marti Subrahmanyam and Omkar Goswami in finance and good governance, Nandan Nilekani in sales and marketing, Gopalakrishnan and Sharad Hegde in techonology and Finacle and people like Dinesh and SD Shibulal in delivery expertise.
Currently Infosys is battling four main issues--a departure from company values, a spike in Sikka's compensation, appointment of Union Minister Jayant Sinha's wife Punita Sinha as an independent director, and large severance pay for ex-CFO Rajiv Bansal. However, amid reports of rising tension, Sikka sent a letter to his employees on Thursday asking them to not get distrated by speculations that question the company's commitment to "governance, integrity and values".
"...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.
Infosys Chairman R Seshasayee too came in support of Sikka and said, "The board is fully aligned with the strategic direction of Dr Vishal Sikka and is very appreciative of the initiatives taken by him in pursuance of this transformation."
When asked about declining corporate governance, Murthy stated that the founders worked hard till the day they left the company voluntarily on October 14, 2014, adding, they have seen "a concerning drop in governance standards at Infosys, since June 1, 2015," when R Seshasayee took over as chairman of the board. He further said that good governance is about doing what is fair in a transparent manner with full accountability accepted by senior leaders and board members for their actions.
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