With Sikka’s exit, and no clear successor in sight, the IT giant faces a colossal crisis.
It’s a bromance gone awry. An internecine feud involving whistle-blower complaints, allegations of financial malpractice, abdication of fiduciary responsibilities, a patriarch who refuses to quietly walk away into the sunset, a divided board, external and internal turmoil, executive exits, angry denunciations and power grab. The goings-on at India’s second largest IT service exporter would make for a splendid soap opera plot line.
Often called iconic, the industry’s bellwether and many such sobriquets, Infosys is facing an unprecedented crisis after its first non-promoter CEO and MD of the company, Vishal Sikka, resigned over what he called “false, baseless, malicious and increasingly personal attacks… amplified by the very people from whom we all expected the most steadfast support...”
The accusations were around alleged kickbacks received and paid, nepotism, extravagant expenditure and high-handedness. Besides, there were conflict about the strategy and way forward for the company, as well as trust issues between the management and the promoters.
The “people” Sikka made an oblique reference to were the promoters who had built the company for the first three decades of its existence.
Nobody saw this coming in April 2014 when Founder and Chairman Emeritus N.R. Narayana Murthy announced Sikka’s hiring. It was seen as a match made in heaven. Sikka, with his phenomenal product development success at global enterprise software major SAP, was seen as the perfect candidate to help Infosys transition from being a low-end player – but till then, lucrative – in the services sector.
Diese Geschichte stammt aus der September 10, 2017-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der September 10, 2017-Ausgabe von Business Today.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
What The Future Holds For Amazon India
The E-commerce Giant Has Seen Steady Growth Since Its Entry Into India In 2013, But The Offline Piece Remains A Challenge. After Losing Out On The Future Retail Acquisition, How Does It Plan To Keep The Growth Engines Revving?
Time To Unshackle?
Young India Is Obsessed With Apps. But The Gateway To Them Is Closely Guarded By Two Tech Behemoths-google And Apple-who Control 99% Of The Market In India. Is It Time For India To Break Free From This Duopoly And Have Its Own App Store?
"Understand what drives key talent"
Novartis India is a part of the Basel, Switzerland-headquartered pharma major Novartis AG
MILLENNIALS MISSING HOME
SKY-HIGH PROPERTY PRICES, COUPLED WITH SLOW INCOME GROWTH, HAVE MADE THE DREAM OF OWNING A HOME A DISTANT ONE FOR MANY MILLENNIALS. THIS COULD LEAD TO STAGNATION IN SOCIAL MOBILITY AND POTENTIALLY DEEPEN EXISTING SOCIAL INEQUALITIES
SIGNATURE MOVE
SIGNATURE GLOBAL, A LEADER IN AFFORDABLE HOUSING, IS LOOKING TO GET BACK IN THE BLACK WITH A SHIFT IN FOCUS TO MID-SEGMENT AND PREMIUM HOUSING AFTER LOW-COST PROJECTS BECAME UNVIABLE FOR DEVELOPERS
MAKING A MARK
PHARMA MAJOR GLENMARK IS STRATEGICALLY PLOTTING ITS WAY UP, ALL BY SHIFTING ITS FOCUS TO BRANDED AND SPECIALITY MEDICINE AND ENSURING IT GETS ITS R&D RIGHT
DIGITAL DICHOTOMY
Where does one draw the line between protecting consumer interests and maintaining market freedom? Industry and experts are debating this even as the Digital Competition Bill seeks to rein in Big Tech firms in India, the world's second-largest internet market
"ChatGPT helped people understand the benefits of using AI"
Humane Inc. Co-founders Imran Chaudhri and Bethany Bongiorno on AI, their product, the company's vision, and more
ON THE FAST TRACK
THE DEDICATED FREIGHT CORRIDORS (DFC) NETWORK OF THE INDIAN RAILWAYS HAS STARTED ATTRACTING MORE FREIGHT PLAYERS. FROM CONNECTING MAJOR PORTS TO CRISS-CROSSING MULTIMODAL LOGISTICS PARKS, DFCS ARE SET TO BE A GAME CHANGER FOR FREIGHT SERVICES IN INDIA
WE HAVE A MODEL MADE IN INDIA, FOR INDIA, AND BY INDIA"
Manish Tiwary, Country Manager of Amazon India, on the opportunities in the country, digital, and more