Investors plead for return of former Infosys CEO amid $4.5bn rout
Mumbai — A group of 12 major institutional investors in Infosys Ltd has asked the Indian IT services company to bring former CEO Nandan Nilekani back on to its board to try to resolve a feud with the company’s founders. The Infosys board has been locked in a public dispute since February with the founders, led by former chair Narayana Murthy, who have accused the directors of governance lapses. The differences prompted its CE Vishal Sikka to resign on Friday, sparking a sell-off that has wiped off more than $4.5bn from Infosys’ market capitalisation over the past four trading sessions. "The recent developments are very concerning to each one of us," the investors, comprising large mutual funds and insurance companies, said in their letter, adding Infosys should consider inviting Nilekani to the board in a "suitable capacity." Nilekani, one of the company’s co-founders, who served as its CEO from 2002 to 2007, could not be reached for comment. The investors, which include HDFC Asset ...
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