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New Twist in Infosys’ Saga, More Board Members Offer to Resign

In a fresh twist to the Infosys saga, the entire IT bellweather’s board offered resignation on Thursday, 24th August 2017 barring Roopa Kudwa and Punita Sinha, paving way for Nadan Nikelani to step in as the crisis manager.

Nikelani wanted to make a comeback in a clean state.

Nikelani will come back for a pre-determined period with the aim of achieving pre-determined goals, mainly finding enough air to find his bearing in the job. He, earlier was very sure of not taking any formal position in the company. He had quit Infosys in year 2009 to join the Manmohan Singh government as the chairman of UIDAI. He was persuaded by his well-wishers to rethink of his decision regarding Infosys.

Twist in Infosys’ Saga

Twelve domestic mutual funds and insurance companies told the Infosys board on Wednesday morning that they want Nilekani to return in a “suitable capacity“.Talks are ongoing with a few of the large, international investors.

Nileka’s arrival mean that the board has to be reconstituted again. According to the sources, three to four directors are all set to resign chairman R Seshasayee, directors Roopa Kudva and Jeff Lehman. Possibly even co-chairman Ravi Venkatesan.

Twist in Infosys’ Saga

It appears that Nilekani and Murthy were locked in the talks on Wednesday. Nilekani probably want some assurance from the company before joining the Infosys. It will be interesting to see if Murthy agrees to join the company under Nilekani’s chairmanship.

So, It looks like the most famous co-founder of the company will be coming back to bail it out, though reluctantly.

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