New Delhi: Kiran Mazumdar Shaw, an independent director on the board of Infosys, has said that the controversy engulfing India’s second largest IT services firm is “unnecessary" and has backed CEO Vishal Sikka from an attack by founder Narayana Murthy.
“Unnecessary controversies are being created and these are old issues," Kiran Mazumdar Shaw told CNN News18. “We need to focus on business, Vishal Sikka is doing a great job."
Infosys founder Narayana Murthy today told the Economic Times in an interview that corporate governance at the firm is down amid concerns about pay hikes and the severance packages of the top management. Murthy said that such payments raised doubts whether the company is using them as hush money to hide something. Also Read: Rift Between Infosys Founder Narayana Murthy and Management
Mazumdar Shaw told News18 that while the board has a lot of respect for Murthy the matter is not as serious as it is made out to be. She said that the issues flagged by Murthy are at least a year old and that while they are sensitive to promoters concerns, the board and promoters should talk directly to each other and not communicate through the media.
“We should have a communication channel with the promoter," She told CNN News18. “He has made the statement because the media has reached out to him," she added.
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