Infosys CFO MD Ranganath may get board seat

Software major Infosys is evaluating the possibility of inducing it's CFO MD Ranganath to the board, people familiar with the development told ET NOW, amid differences between the original founders of the company and the board on governance related issues.

ET NOW learns from sources that Ranganath's appointment to the board will be viewed positively by the founders as he represents so-called Infosys values of transparency and ethics as far as corporate governance is concerned.

An Infosys Spokesperson said the company will not offer comments for this story.

The Infosys board currently has two directors in an executive capacity - it's CEO Vishal Sikka and COO UB Pravin and eight independent directors.

Two people ET NOW spoke to, who declined to be named, said Ranganath's appointment is being seriously considered and might be announced in the coming months.

"It will be the right thing to do because he has shown that he has an independent voice, both with the board and the promoter group. It will strengthen the board and enhance governance. "

The second person said that this wouldn't be viewed as a founder-led appointment because Ranganath enjoys a good equation with Vishal Sikka as well.