The Infosys board on Tuesday cleared former chief executive Vishal Sikka of all allegations of governance failure in the Panaya acquisition, which had led to his exit in August after a prolonged tussle with the company’s founders.
However, Infosys founder Narayana Murthy said he stands by every question on poor governance raised in his speech to Infosys investors.
Murthy said fact remains that none of these questions have been answered by the Infosys board with the transparency it deserves.
Murthy says core question still is how and why Infosys board approved unusual, unprecedented severance payment agreement for former CFO Rajiv Bansal.
Here's the full text of his statement:
"I stand by every question on poor governance raised in my speech to Infosys investors dated August 29, 2017. The fact remains that none of these questions have been answered by the Infosys board with the transparency it deserves. I am disappointed. The core question still is how and why the Infosys board approved an unusual and unprecedented severance payment agreement of 1000% (of the standard Infosys employment contracts) to the former CFO, and why the board did not disclose this information proactively and much earlier. Sadly, it appears we will no longer know the truth."