Infosys Imbroglio : Nandan Nilekani stages a comeback at Infosys as non-executive chairman

Picture Courtesy : Times of India

In a dramatic turn of events, Infosys co-founder and former chief executive Nandan Nilekani returned to the company board after being named non-executive, non-independent chairman, reported Reuters on Thursday.

“(The) Board of Directors has unanimously approved the appointment of  Nandan Nilekani as the Non Executive Chairman of the Board, effective immediately,” the company said in a statement to stock exchanges.

The appointment came amid high-level exits from the tech giant, as former CEO Vishal Sikka and directors Jeffery S Lehman and John Etchemendy resigned from the Infosys board with immediate effect. Chairman of the board R Seshasayee and co-chair Ravi Venkatesan also stepped down from the board. The company has accepted their resignation, Reuters said.

According to Times of India report, Top fund managers and domestic institutional investors (DIIs) had written to the Infosys board pitching for Nilekani’s return to the company and take on a role in a “suitable capacity”. Moreover, he is learnt to have played an active role behind the scenes to try and resolve the Infosys imbroglio.

Nilekani, the architect of Aadhaar, co-founded Infosys 36 years ago at the age of 26. He had quit in 2009 to join the UPA-II government as chairman of the UIDAI and had said as recently as last weekend that he did not plan on accepting a formal position in Infosys.

The board shake-up comes in the wake of Vishal Sikka’s resignation as CEO last week, blaming founder Narayana Murthy for personal attacks and slander.