Corporate leaders should exercise self-restraint in perks: Narayana Murthy

Ahmedabad: Corporate leaders should exercise "self-restraint" in their perks, profligacy, and lifestyle, particularly in India where a majority of people are poor, to make capitalism attractive, Infosys co-founder NR Narayana Murthy said here on Sunday.

Speaking as the chief guest at the 58th annual convocation of the Indian Institute of Management Ahmedabad (IIMA), Murthy said "good governance" is enhanced by adhering to "honesty, fairness, transparency and accountability in every transaction". Listing his "ideals," he emphasised the virtue of "fairness" as being the most important attribute for a decision.

"Across the world and particularly in a country like India where a majority of people are poor, the best way to make capitalism attractive is that corporate leaders exercise self-restraint in their perks, profligacy, compensation, and their lifestyle," Murthy said.

He said the "mindset" of a company should be determined by the culture of meritocracy and values, as "culture is a strong foundation on which the super-structure of aspirations, dreams, and hopes rests". Murthy said a part of success is determined by performance and half part by luck. "I want every one of you to be humble...You must do everything possible for success before you invoke God," he said.