Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • Charlie Kirk shot dead
  • Nepal protests
  • Russia-Poland tension
  • Israeli strikes in Qatar
  • Larry Ellison
  • Apple event
  • Sunjay Kapur inheritance row
fp-logo
As it happened: Nandan Nilekani returns to Infosys, first media briefing, investor meet
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit

As it happened: Nandan Nilekani returns to Infosys, first media briefing, investor meet

FP Staff • August 25, 2017, 18:25:14 IST
Whatsapp Facebook Twitter

Nandan Nilekani has been called in to steer Infosys after chairman R Seshasayee and three other directors quit, meeting the key demand of founder group led by NR Narayana Murthy

Advertisement
As it happened: Nandan Nilekani returns to Infosys, first media briefing, investor meet
August 25, 2017, 18:02:27 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani concludes the press conference.

No more details than the investor call that happened in the morning.

Here is a summary:

Goal is to build consensus, bring stability to the company.

Infosys board never wanted to cause anguish to founder NR Narayana Murthy

Will get full briefing on investigations into alleged wrongdoing in $200 mn buyout of Panaya.

Will take feedback from small and big investors on corporate governance issues at Infosys. 

Represents 100 pc shareholders; has record of doing things in different environments, consensus building.

August 25, 2017, 17:47:52 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani says I wouldn’t run the company based on Twitter, TV comments

Nandan Nilekani stalls all questions related to the recent controversies.

He expects Prahlad and Ravi Venkatesan to do a great deal of heavy lifting.

“I won’t run this company based on comments from Twitter and TV channels,” he says.

August 25, 2017, 17:38:58 (IST)
Whatsapp Facebook Twitter

Is everything hunky-dory with the company? Yes, Nandan Nilekani reiterates

Another reporter asks: Is everything hunky-dory at Infosys now?

Nilekani just says, “Yes”. Repeats it after a while, “Yes”.

August 25, 2017, 17:36:39 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani says I believe I am here not because I am a co-founder

Nilekani says he represents all the stakeholders. 

“I would like to think that I am here not just because I am a co-founder,” says Nilekani.

He reiterates he will be here as long as required.

More from Business
Hyundai India’s Rs 27,870 crore IPO oversubscribed by 2.28X, largely driven by institutional investors Hyundai India’s Rs 27,870 crore IPO oversubscribed by 2.28X, largely driven by institutional investors How Indian fintech startups are driving Malaysia’s UPI-like digital payments revolution How Indian fintech startups are driving Malaysia’s UPI-like digital payments revolution
August 25, 2017, 17:25:47 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani says disagreements between board and Narayana Murthy unfortunate

Nilekani reads out the press release. He says it is unfortunate that there were disagreements between the board and co-founder Narayana Murthy.

The board did not intent to cause any personal distress or anguish, he says.

Nilekani to get a briefing on recent forensic audit of all issues, including the Panaya acquisition.

August 25, 2017, 17:22:15 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani says the board to take stock of company’s initiatives in 6 weeks

Nilekani says the new board will take stock of the company’s steps in six weeks. A strategic framework will put in place.

Advertisement
August 25, 2017, 17:11:45 (IST)
Whatsapp Facebook Twitter

First board meeting chaired by Nandan Nilekani happened today

A bit more details may come forth in this press meet.

“We had a board meeting from 4 to 5. I will update to about you about the developments today once the release about the board meeting comes,” he says.

August 25, 2017, 17:11:05 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani says he represents all stakeholders, will take company forward

Nandan Nilekani narrates the sequence of events at the board meeting that happened on Thursday.

I am here because there is nobody else, he jokes.

He goes on to say that he represents all, including the shareholders and board members. He promises to take the company forward.

August 25, 2017, 17:07:13 (IST)
Whatsapp Facebook Twitter
Nandan Nilekani starts his address
August 25, 2017, 17:00:53 (IST)
Whatsapp Facebook Twitter

Reboot is over, now it is time to rebuild and repair, says Bloomberg column

Meanwhile, a Bloomberg column said Infosys with the latest change, the reboot of the company is over. Now it is time to rebuild and repair.

“As the board is further revamped, the Bangalore-based software services company will complete the correction of its corrupted code,” columnist Andy Mukherjee said.

August 25, 2017, 16:53:22 (IST)
Whatsapp Facebook Twitter

Alumni Ashok Vemuri, BG Srinivas, Mohandas Pai can be potential CEO candidates

Former Infoscions may well have a shot at clinching the top job as Infosys CEO, with the company looking at “alumni” along with internal and external candidates in its global search for the lead role.

Nilekani earlier in the day told investors that Infosys was going to “cast a very wide net” globally to get the best talent onboard.

“We are looking at internal candidates, external candidates and Infosys alumni,” he said. Nilekani added there are Infoscions, who have left the company and have “charted their own success stories”.

“We have an open mind. It will be a global search… The goal is to find somebody who has the expertise in managing a global corporation, who can accelerate the execution of our strategy and has strong appreciation of the cultural transformation that is required,” he said. 

With Infosys now looking at alumni as well, the contenders could include names like V Balakrishnan (ex-CFO), Mohandas Pai (former CFO and HR Head), Ashok Vemuri (former Americas Head and Board member) and B G Srinivas (former President).

However, Balakrsihnan told CNBC-TV18 today that he is not looking to return to Infosys.

With inputs from PTI

August 25, 2017, 16:31:25 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani tweets on his return to company: Life has come full circle

Nandan Nilekani is about to address the media in a short while. 

Here is a recap of his key statements in the morning’s investor call:

As Infosys Non-executive Chairman, my role will be oversight, governance and functioning, help with CEO search

I am an admirer of N R Narayana Murthy, will ensure Infosys, Murthy and other founders have a healthy relationship

Too premature for me to comment on Infosys’ strategy, guidance and earnings; committed to highest standards of corporate governance

Will unveil more strategy details in October, want to bring complete stability and have no discordant voices at Infosys

On risk of class action lawsuits: Legal teams will look into those, there will be things of that nature, our focus is on business

Will take stock of current board composition, suitable structure needed six months from now; there will be a systematic search for new members

Earlier in the day, Nilekani tweeted that with his return to the company his life has come full circle.

Joined @Infosys at 26, re-joined it at 62. Life does turn full circle!

— Nandan Nilekani (@NandanNilekani) August 25, 2017
Advertisement
August 25, 2017, 11:24:28 (IST)
Whatsapp Facebook Twitter

V Balakrishnan on CEO post: Do not want to return, there are many eligible alumni

V Balakrishnan tells CNBC-TV18 that there are many Infosys alumni who are potential candidates for the CEO post.

“I see a lot of eligible alumni, who can fill in the post of CEO,” Balakrishnan told the TV channel.

He, however, says he will not return to Infosys.

He reiterates his position that Sikka’s exit was not at all linked to Murthy.

August 25, 2017, 11:17:42 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani promises to focus is on the future 

As concluding remarks, Nilekani thanks everybody, from investors to the board.

“I am very grateful to the board who unanimously decided to bring me back,” he says again.

He promises single minded focus on the future of the company.

“My focus is on the future,” he reassures.

August 25, 2017, 11:13:24 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani ‘very conficdent Aadhaar will come out with flying colours’

Meanwhile, one analyst asks about the Supreme Court’s order on Thursday declaring Right to Privacy as a fundamental right.

“It is a superb decision,” he says stressing on the reasonable restrictions part.

“I am very conficdent that Aadhaar will come out with flying colours,” he says.

August 25, 2017, 10:57:49 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani on press release about Narayana Murthy: Will take stock of everything

One of the analysts asks whether the Infosys will take back the press release that accused Narayana Murthy of continuous assault on Sikka.

“I am going to take stock of everything,” Nilekani says. He is not ready to take any question on any of the recent developments. “Don’t put words into my mouth,” he snaps as the analyst insists with the question.

August 25, 2017, 10:52:12 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani says will look for the best CEO, alumni too will be considered

On CEO search, Nilekani assures that he wants the best person to be brought in.

He also said the Infosys alumni, those who exited, will also be considered while searching for the CEO.

A few eminent Infosys veterans such as Ashok Vemuri and BG Srinivas has left the company after Vishal Sikka joined in 2014.

August 25, 2017, 10:44:33 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani says that there is no change in capital allocation

Nilekani asks MD Ranganath to help with the question on buyback.

Ranganath assures that there is no change in the share buyback.

“There is no cange in capital allocation policy,” Nilekani chips in.

Advertisement
August 25, 2017, 10:43:44 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani says he is looking at all issues dispassionately

Nilekani says he will look at all the issues, including that related to corporate governance, dispassionately.

August 25, 2017, 10:34:43 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani hopes to build on his consensus building abilities

Nandan Nilekani says he hopes to build on his consensus building abilities.

He invokes the his Aadhaar experience. “I have been a consensus builder all through the life.”

He says the Aadhaar, which was rolled out during the UPA, is being carried forward by the next NDA. This shows how good he is at building consensus, he said.

August 25, 2017, 10:30:50 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani to unveil new, updated strategy in October

In reply to a question on the way forward, Nandan Nilekani said he will unveil a new and updated strategy for Indfosys in October.

“I am abreast of all technological changes that have happened recenlty,” he said. However, he aked for time until October to give details of the company’s strategy.

August 25, 2017, 10:24:22 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani lists out his tasks, from stability to strategy

To a question, Nandan Nilekani lists out his tasks ahead.

First one is to restore stability to the company, by ensuring there are no discordant notes.

Secondly he will focus on energy to further the business. Thirdly, the help with the CEO search. Fourthly, the board reconstitution.

August 25, 2017, 10:18:46 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani says he will take all steps required to take the company forward

Nandan Nilekani assures the investors that he will take all steps required. He too has his focus on corporate governance.

“We will take this forward properly,” Nilekani says.

August 25, 2017, 10:14:44 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani assures he will remain for as long as required

Nandan Nilkani has assured that he will reamin as the non-executive chairman as long as required. “There are tasks to be accomplished,” he said.

However, he also said he will not stay back more than required.

Advertisement
August 25, 2017, 10:11:09 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani says Narayana Murthy father of corporate governance in India

Nandan Nilekani heaps praises on NR Narayana Murthy.

“I am a big admirer of Narayana Murthy. I think you can think of him as father of corporate governance in India,” he says.

August 25, 2017, 10:08:47 (IST)
Whatsapp Facebook Twitter

Nandan Nilekani says his responsibility is to find a CEO for the company

Nandan Nilekani starts the investor call.

Says his reponsibility is to find a CEO. However, he says he would not speak on the projections. He is happy that there is a universal acceptance of his returning to the company.

August 23, 2017, 12:59:50 (IST)
Whatsapp Facebook Twitter

Former Infosys CEO V Balakrishnan speaks to CNBC TV18

#OnCNBCTV18 | V Balakrishnan, former #Infosys CFO: @NandanNilekani should be made Chairman of #Infosys

— CNBC-TV18 (@CNBCTV18Live) August 23, 2017

#OnCNBCTV18 | V Balakrishnan, former #Infosys CFO: @NandanNilekani will be a good face to have at helm of @Infosys pic.twitter.com/Y7OByaFCLN

— CNBC-TV18 (@CNBCTV18Live) August 23, 2017

#OnCNBCTV18 | V Balakrishnan, former #Infosys CFO: Seshasayee & Ravi Venkatesan should quit as they have let down shareholders

— CNBC-TV18 (@CNBCTV18Live) August 23, 2017

#OnCNBCTV18 | V Balakrishnan, former #Infosys CFO: Will be a good thing if @NandanNilekani is brought in to head @Infosys

— CNBC-TV18 (@CNBCTV18Live) August 23, 2017
August 23, 2017, 12:58:32 (IST)
Whatsapp Facebook Twitter

#CNBCTV18Exclusive | Sources say @NandanNilekani likely to be brought in to head @Infosys for now pic.twitter.com/1ZbsPDSO0D

— CNBC-TV18 (@CNBCTV18Live) August 23, 2017

Infosys co-founders led by N R Narayana Murthy today had their way as they got their peer Nandan Nilekani appointed the chairman of the IT major in place of R Seshasayee, who quit under their pressure. [caption id=“attachment_3972199” align=“alignleft” width=“380”] ![Nandan Nilekani.](https://images.firstpost.com/wp-content/uploads/2017/08/Nandan-Nilekani-Infosys-Co-founder-image-courtesy-Infy-website_3803.jpg) Nandan Nilekani.[/caption] Nilekani, 62, who was CEO of the company between 2002 and 2007 and is credited as the architect of the world’s largest biometric ID card programme Aadhaar, will takeover as Chairman of Infosys with immediate effect, the company said in a statement. Co-chairman Ravi Venkatesan has also resigned, although he would continue as an independent director. Two other independent directors – Jeffery S Lehman and John Etchemendy – also quit the Infosys board with immediate effect. The resignations brought about a near-complete overhaul of the 9-member Infosys board, meeting key and persistent demands of the founders led by Murthy. PTI

  • Home
  • Business
  • As it happened: Nandan Nilekani returns to Infosys, first media briefing, investor meet
End of Liveblog
Latest News
Find us on YouTube
Subscribe
  • Home
  • Business
  • As it happened: Nandan Nilekani returns to Infosys, first media briefing, investor meet
End of Liveblog

Impact Shorts

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai leads India in challan checks, with drivers checking their e-challans over 5 times a month on average. Helmet non-compliance is the most broken rule, accounting for 34.8% of all traffic offences in Chennai. Regular digital challan checks help drivers avoid hefty fines, promote safe driving, and improve insurance premiums.

More Impact Shorts

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Enjoying the news?

Get the latest stories delivered straight to your inbox.

Subscribe
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV