Former Infosys CFO V. Balakrishnan on Sunday said he favoured co-founder N.R. Narayana Murthy being invited as chairman-emeritus and chief mentor with immediate effect and allowed to take a lead to reconstitute the board to create a long-term and sustainable governance framework.
“The board needs an appropriate balance to create the checks and balances necessary to make the executive management accountable,” the former chief financial officer told PTI.
Former Infosys veteran Mohandas Pai had pitched for Mr. Murthy’s return as chairman emeritus, saying the move would improve its brand and assure investors about adherence to high corporate governance standards.
“The friction between founders and the board is impacting the company and is not good for its stakeholders,” Mr. Balakrishnan said.