Infosys appoints independent director Ravi Venkatesan as co-Chairman in board expansion move

Software major Infosys on Thursday appointed independent director Ravi Venkatesan as co-Chairman amid calls from founders to diversify the board.

The board expansion comes against the backdrop of an ongoing tussle between the founders and the management over contentious issues such as CEO salary hike, severance package to former employees and corporate governance standards.

"Ravi will help me enhance the board engagement in supporting the management in execution of the company's strategy," R Seshasayee, Infosys Chairman, said in a statement.



Venkatesan, who has been on the Infosys board since April 2011, has made "valuable contribution to the development of strategic direction of the company during his tenure", the company said.

"This is an exciting time for the technology industry and I am delighted to have the opportunity to work more closely with Sesh (Seshasayee), Vishal and his leadership team in their transformational journey," Venkatesan said.

Currently chairing the board of Bank of Baroda, Venkatesan helmed the key position of chairman at Microsoft India.  Also, a board member at the Rockefeller foundation, Venkatesan has authored a book, Conquering the Chaos - Win in India, Win Everywhere, on building products and solutions for India, which can be taken to other markets in the world, the Business Standard report said.

The appointment of Venkatesan by the board is seen as a move to reduce the rising friction between the founding members and the board of directors over the governance-related issues.

"I am not sure this addresses all of Murthy's concerns. He had asked for Marti Subrahmanyam to be brought to the board. But it shows the board is willing to listen," The Economic Times reported quoting Shriram Subramanian, managing director of shareholder advisory firm InGovern.

With PTI inputs

Updated Date: Apr 13, 2017 14:04 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See