Founder Narayan Murthy’s malicious campaign against Infosys Board in general and Vishal Sikka in particular which resulted in the CEO’s resignation has wiped out the company’s market capitalisation by over 3 to 4 billion dollars in a single day to the shock of all shareholders. Washing dirty linen in public is not how you settle company matters and Murthy should have used a proper forum like the courts or the Company Law Board if he indeed believed Infosys was mismanaged by Vishal Sikka.
Infosys infact revived under Sikka’s leadership in a period which was extremely difficult for the IT sector and tussle of egos between founders and Board truly has taken sheen out of a company which was once considered a bellwether software company for which country was very proud of. Infosys created enormous wealth for its shareholders including myself and one could not even imagine the sorry state of affairs the company is going through even in one’s dreams and this truly today is the saddest day in the history of India’s corporate world. Hope better sense prevail and Narayan Murthy should either come back to run the show at Infosys or let the new leader who replaces Sikka to run the company without any interference.
(The views expressed by the author in the article are his/her own.)