Narayana Murthy’s ‘Continuous Assault’ Led Sikka To Quit: Infosys Board

Bengaluru: Infosys founder NR Narayana Murthy on Friday was balmed by the company's board for the resignation of Chief Executive and Managing Director Vishal Sikka.

"Murthy's continuous assault, including his latest letter, is the primary reason for the resignation of Sikka despite strong Board support," said the IT major in a statement here hours after it accepted Sikka's resignation and appointed him as Vice-Chairman till the new Chief Executive is appointed by March 31, 2018.

Noting that a letter authored by Murthy attacking the integrity of the Board and the management for alleged falling corporate governance standards was doing the rounds in various media houses across the country, the company said the Board took umbrage at the contents of the founder's purported letter.

Murthy’s continuous assault, including his latest letter, is the primary reason for the resignation of Sikka despite strong Board support

"Murthy's letter contains factual inaccuracies, already disproved rumours, and statements extracted out of context from his conversations with Board members," asserted the company.

Assuring shareholders, employees, customers and communities of not being distracted by Murthy's "misguided" campaign, the company said it would continue to adhere to the highest international standards of corporate governance as it executes its strategy of profitable growth for the benefit of all stakeholders.

Sikka, who joined the tech major in August 2014, resigned on Friday citing continuous disruptions and personal and negative remarks against him. The Board elevated Chief Operating Officer UB Pravin Rao as the interim CEO and MD, reporting to Sikka under its overall supervision and control.