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WATCH LIVE: Vishal Sikka Press Conference on Resignation from Infosys

Infosys co-chairman Ravi Venkatesan today assured investors and employees of Infosys that the changes brought about by Vishal Sikka will not be rolled back or lost with the exit of the CEO.

Venkatesan was speaking at the press conference organized by the company to address worries about the resignation of the CEO. He also said he was not in contention to be the next CEO for the company.

“It’s incredibly important that whoever is the CEO buys into the roadmap (unveiled by Sikka). We don’t want to go back. We’ve already seen some pickup,” Venkatesan said, adding that the leader should also understand the ‘culture’ of Infosys.

He said the board has no ‘preconceived’ ideas on whether it should be an insider or an outsider.

He said the board would consider an active role for former chairman and key shareholder Narayana Murthy.

Sikka, who joined the company over three years ago,  put in his papers today saying that personal attacks and distractions were not allowing him to focus on his work.

The resignation comes in the wake in the questions from key investors and founders about some of the actions taken by the management, including a very large severance pay offered to Rajeev Bansal, the ex-CFO of the company.

“At some point, you realize that it is taking a heavy toll on the organization. It is taking a heavy toll personally. I realized that it was an untenable situation and it is not worth it. It was hurting the company as well,” Sikka said.

“I’m still here. I’ll focus on strategy and client relations and help the management in any way I can. I am here till 31 March (2018),” he added.

Company chairman R Seshasayee said the company will continue to follow the path drawn up by Sikka.

“It is unfortunate that despite we having supporting him, it has hurt him,” he said, referring to Sikka’s decision to step down.

“We will create an environment that is stable, and choose the right kind of leadership to move forward in the direction that the company has chosen under Vishal,” he said.

“None of the things that have been set in motion will be stopped,” he added.

He said the company had proven that it was possible for two people to work together in leadership, as exemplified by his experience with co-chair Ravi Venkatesan.

On a more active role for Narayana Murthy, he said: “The promoters are extraordinary set of people and it is important for us to be respectful of that.. but end of the day, it is the shareholders’ wish that we have to adhere to.”

There would be a role for the founders if the shareholders want (it), he said.

He also said he was not looking for another ‘culture shock’ to the company via the transition to a new CEO.

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Infosys Board defends against allegations by Narayana Murthy

The full press conference can be watched live at the following link.

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