On Tuesday, Infosys co-chairman Ravi Venkatesan met Finance Minister Arun Jaitley.
Infosys management starts crisis management, creates team to calm investors, counter Narayana Murthy
Infosys has seen its market cap erode Rs 33,900 crore in just the last two trading sessions. Two sets of teams have been put in place to reach out to the US and Asian investors.
Infosys’ major challenge will be to hold on to its clients and its top executives, several of whom are expected to be spooked by CEO Vishal Sikka’s abrupt resignation.
In the past, the board had adopted a placatory stance in public with Murthy often saying that Murthy holds an important role in the company and his inputs would be valued.
Analysts expect more senior-level exits over the next 6 months, feel Infy’s turmoil is a self-inflicted wound at a time when the co should be firing on all cylinders.
At the heart of the rift lies the Panaya deal. A symbol of the generation gap in corporate thinking around IT deals: "How much" vs "too much".
The premium is of particular importance after Infosys’ shares crashed 10 per cent after Sikka resigned.
Infosys was reluctant to let Sikka go and repeatedly tried to dissuade him from quitting for about a week, sources with direct knowledge of the matter told ET.
Infosys accused the iconic founder of waging a “campaign against the board and the company” and using the threat of media attacks to demand management changes.
Ramamoorthy, who was previously senior vice president - corporate marketing, corporate affairs and communications, has been with the company for 19 years.
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