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Infosys Board doesn't want Tata type tussle with founders

Mail Today Bureau     February 11, 2017

The Infosys board does not want a war of words with the Indian software services company's former leadership to descend into the kind of damaging row seen at Tata, an Infosys boardroom source said on Friday.

India's second biggest IT services company, has been in an escalating public dispute with its founders and former executives this week, who have accused the board of lapses in corporate governance. The founders own 12.75 percent of the company.

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The boardroom tussle at Infosys comes at a time when another iconic Indian firm, Tata Sons, has been hit by allegations of corporate governance lapses following the ouster of former Chairman Cyrus Mistry.

The Tata row has spilled into the courts and has tainted the reputation of one of India's most respected business houses. "For sure we don't want another Tata happening. We don't want that replay and therefore we will do what it takes to avoid that kind of situation," said the boardroom source, asking not to be named given the sensitivity of the situation.

Earlier on Friday, V. Balakrishnan, a former chief financial officer at Infosys, told Reuters the company's board had become "lax on corporate governance and was undermining the values on which the company was built".

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