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Published On: Fri, May 11th, 2018

Ravi Venkatesan quits Infosys board

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64125869NEW DELHI : Ravi Venkatesan, the former co-chairman of Infosys Ltd, resigned from the post of independent director at India’s second-largest IT outsourcing company, a move many observers said was part of co-founder Nandan Nilekani’s board reconstitution.
Infosys, in a filing to the exchanges on Friday, said that Venkatesan, who joined the board in 2011, had decided to step down as the former head of Microsoft India wanted “to pursue an exciting new opportunity”.Last month, Infosys elevated Kiran Mazumdar-Shaw as the lead independent director.
At least one proxy advisory firm believed that Venkatesan could have completed his current term—it was to end in April 2019—and that his resignation from the company reflects the board reconstitution, with more changes not ruled out in coming months.

On 17 August, Infosys board blamed founder N.R. Narayana Murthy for his “continuous assault and misguided campaign”, and said this was the primary reason behind the abrupt exit of chief executive officer Vishal Sikka.
As the company was thrown into chaos, Nilekani returned as non-executive chairman, even as three independent directors, including chairman R. Seshasayee, Jeffrey S. Venkatesan then said that his discussions with Murthy were part of “privileged conversations” he had had with Murthy, even as both declined to comment on the email.
“I believe more changes at the board can be expected in the coming months as Infosys under Nilekani starts afresh,” said InGovern’s Subramanian.
Venkatesan, in a statement sent along with Infosys’s filing to exchanges, said: “My seven years on the board have been exciting, rewarding and eventful. l feel fortunate to have been part of this extraordinary company at a seminal moment in its history and to have worked with so many fine colleagues on the Board and in management.”
Nilekani said, “I thank Ravi for his pivotal contributions to Infosys in a period of important transitions and towards a digital-first future. This passage is one that every entrepreneurial company faces eventually and I thank Ravi for his leadership in ensuring a successful transition.” (With Agency Inputs ).

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