Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
Powered by cricketnext logo
News18 » Business
1-min read

Narayana Murthy Stays Away From Infosys AGM For Second Straight Year

Infosys faced months of protracted standoff between its founders led by Narayana Murthy and the previous management over issues of corporate governance and compensation to former executives.

PTI

Updated:June 23, 2018, 7:43 PM IST
facebookTwitter Pocket whatsapp
Narayana Murthy Stays Away From Infosys AGM For Second Straight Year
File photo of Former Infosys chairman N R Narayana Murthy .

Bengaluru: For the second straight year, Infosys co-founder N R Narayana Murthy stayed away from company's Annual General Meeting here. "He (Murthy) is out of country," his close aide told a section of the media here.

Non-Executive Chairman Nandan Nilekani participated in the 37th AGM of Infosys. Last year too, Murthy and other co-founders including Nilekani, S Gopalakrishanan, S D Shibulal and K Dinesh had stayed away for the first time from the AGM on June 24, 2017.

They remained absent amidst serious differences over governance issues with some of the Board's previous members and its first non-founder Chief Executive Officer Vishal Sikka.

Infosys faced months of protracted standoff between its founders led by Narayana Murthy and the previous management over issues of corporate governance and compensation to former executives.The tussle had led to the sudden resignation of the then CEO Vishal Sikka in August last year, followed by Seshasayee and some other directors.

Infosys co-founder Nilekani was then brought in as Chairman, followed by appointment of Salil Parekh as CEO.

In April this year, Infosys announced that it has put Skava and Panaya on sale. Parekh, 53, joined Infosys on January 2 from Capgemini where he was a member of the Group Executive Board.

In his first letter to company's shareholders ahead of the AGM, Parekh said the company is positioning its capabilities to help navigate its clients next across the different dimensions of the journey. Interestingly, the AGM also marks the company's 25th year of going public in 1993 when its shares were listed on the BSE.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Padmaja Venkataraman
Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
Indiabulls Hsg 309.05 6.11
Tata Motors 176.70 1.93
SBI 332.55 3.32
TCS 2,071.25 2.49
Axis Bank 752.00 4.14
Company Price Change %Gain
Indiabulls Hsg 309.30 6.09
Reliance 1,582.45 0.95
Tata Motors 176.65 1.90
SBI 332.70 3.39
Yes Bank 46.65 2.87
Top Gainers
Company Price Change %Gain
Axis Bank 752.00 4.14
Vedanta 149.40 3.75
Hindalco 208.25 3.38
SBI 332.55 3.32
Coal India 196.25 3.21
Company Price Change %Gain
Axis Bank 752.00 4.21
Vedanta 149.35 3.75
SBI 332.70 3.39
TML-D 72.80 3.34
Maruti Suzuki 7,221.35 3.20
Top Losers
Company Price Change %Gain
Dr Reddys Labs 2,821.50 -2.90
Bharti Airtel 427.80 -2.47
Zee Entertain 279.70 -1.62
Kotak Mahindra 1,692.75 -1.33
Bajaj Auto 3,232.90 -0.88
Company Price Change %Gain
Bharti Airtel 427.50 -2.46
Kotak Mahindra 1,691.95 -1.38
Bajaj Auto 3,233.05 -0.86
Asian Paints 1,744.00 -0.40
HUL 2,005.30 -0.06

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results