Infosys today said it is engaging with shareholders on the future course of action to ensure that high governance standards are maintained, as it attempts to put behind months of acrimony between founders and former Board members over allegations of lapses. On August 24, the then chairman R Seshasayee quit and co-founder Nandan Nilekani was named non-executive Chairman. "As announced on August 25, 2017, the company has started engaging in broad-based shareholder consultations to determine what further actions, if any, the company can take to ensure that it continues to adhere to high governance standards," Infosys said in a BSE filing. Earlier this week, Murthy had said his concerns with the previous board were poor governance, ex-CFO being paid large severance as 'hush- money' and alleged irregularities in Panaya acquisition. The Infosys Board -- which was headed by Seshasayee at that time -- then accused Murthy of running a "misguided" campaign and held him responsible for Sikka's resignation.

Source: Economic Times September 01, 2017 11:26 UTC