Infosys Board Not Divided, Says Seshasayee
The Question Of Sikka's Severance Pay
Vishal Sikka will not receive any severance pay upon his exit from the company’s helm, since he resigned on his own. Some people read into the contract more than the contract ever said, Seshasayee said, adding that Sikka is "not a guy motivated by phenomenal sums of money".
Sikka will now receive $1 for his role as Infosys' executive vice chairman.
Me stepping down or Ravi (Venkatesan) stepping down won’t solve the problem. We will continue to do our job.R Seshasayee, Chairman, Infosys
Responding to Murthy's latest set of allegations, Seshasayee said that the board and the investigating authorities found no wrongdoing within the company after all three investigations were completed.
No Division Of Power
Ravi Venkatesan’s role as the co-chairman of the Infosys board should not be viewed as a division of power, said Chairman R Seshasayee.
Venkatesan was appointed as the co-chair in April this year after ongoing criticism from Narayana Murthy and other company founders regarding lapses in governance.
The vacant seat in India’s second largest IT company and succession planning is high on the mind of the company’s board members. The events that have taken place in the last 48 hours have made if difficult for the board to consider Murthy for a formal role in planning this succession, he said.
As for what the board is looking for in the next CEO, he said:
- The next CEO must buy into the vision and strategy of the board
- The new CEO must have extraordinary people skills
Vishal Sikka was excellent at connecting with employees which led to a strong culture within the company, he said.