Tuesday, July 8, 2025
ADVT 
India

Murthy Rules Out Returning To Infosys Again

IANS, 22 Jun, 2015 10:49 AM
  • Murthy Rules Out Returning To Infosys Again
Infosys co-founder N.R. Narayana Murthy on Monday ruled out returning to the company as he did in June 2013, three years after retiring in August 2011.
 
"There is no need for anybody to get get back from outside to lead Infosys, as a very good set of people, headed by chief executive Vishal Sikka, is running it," Murthy told reporters at the company's 34th annual general meeting (AGM) here.
 
Murthy's clarification came in response to many shareholders asking him to come back again and head the $8.7 billion company at a time when the IT industry was facing multiple challenges.
 
"They (shareholders) are saying such things because of some affection. Reality is we should allow the new team to run it, support it and cheer it from outside," said Murthy after attending the AGM as a promoter shareholder with his wife Sudha Murthy, chairperson of Infosys Foundation.
 
There were many demands for Murthy's return.
 
"As Murthy is to Infosys what Mahatma Gandhi was to India, he should continue to be at the helm of the company," shareholder G.V. Ramana Reddy said at the AGM.
 
Murthy, who returned from retirement on June 1, 2013 to head the troubled company as chairman, stepped down abruptly a year later (June 14, 2014) after reviving its sagging fortunes and finding Sikka as a worthy successor.
 
Terming those on the company's board as smart, dedicated and hard working, he said the board members want the best for the company and the co-founders were fully them.
 
"He (Sikka) has been working hard and brought lot of good ideas. I am sure he will deliver. We have to be patient," Murthy said after sitting in the front row for the first time facing the dais where he chaired AGMs over the years.
 
Noting Sikka had set a $20 billion revenue target by 2020, he said it was indeed a very ambitious one and he wished him the best.
 
"He (Sikka) has set an aspirational target. We should all support him and pray that he succeeds," Murthy quipped before leaving the venue while the meeting was only half way through.
 
Incidentally, barring Murthy, six other founders - Nandan Nilekani, A.S. Gopalakrishnan, S.D. Shibulal, K. Dinesh, N.S. Raghavan and Ashok Arora - were conspicuously absent at the AGM though they continue to be promoter shareholders.

MORE India ARTICLES

Aruna Shanbaug Rape Accused Sohan Lal Living A 'Normal' Life In A UP Village

Aruna Shanbaug Rape Accused Sohan Lal Living A 'Normal' Life In A UP Village
Villagers say they were aghast to know of the crime that Sohan Lal had committed as they found him to be "very normal" and rather well behaved. 

Aruna Shanbaug Rape Accused Sohan Lal Living A 'Normal' Life In A UP Village

AAP Youth Wing Protests Ban On IIT-Madras Students Group

AAP Youth Wing Protests Ban On IIT-Madras Students Group
 The AAP's youth and students wings on Saturday protested in the capital over the alleged banning of a student group at the Indian Institute of Technology-Madras for distributing controversial pamphlets.

AAP Youth Wing Protests Ban On IIT-Madras Students Group

Indian Cabinet nod for land ordinance's re-promulgation, Rahul attacks Modi

Indian Cabinet nod for land ordinance's re-promulgation, Rahul attacks Modi
The cabinet meeting, chaired by Prime Minister Narendra Modi, gave its approval to amend the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement (Amendment) Ordinance, 2015. 

Indian Cabinet nod for land ordinance's re-promulgation, Rahul attacks Modi

Why Congress Doesn't Give Manmohan The Credit He Deserves

The Narendra Modi government's chief economic advisor, Arvind Subramanian, has said that the rate of poverty reduction from 2005-06 to 2011-12 was the fastest in the country's history. The reason, according to him, was "fast GDP growth".

Why Congress Doesn't Give Manmohan The Credit He Deserves

Notice To Punjab Over Illegal Buildings Near Golden Temple

Notice To Punjab Over Illegal Buildings Near Golden Temple
The court, while issuing notices to the government and the Municipal Corporation of Amritsar, directed them to file reply on July 2.

Notice To Punjab Over Illegal Buildings Near Golden Temple

India's 7.3 Percent Growth Neck-and-neck With China's

India's 7.3 Percent Growth Neck-and-neck With China's
India may have just fallen short of surpassing China as the fastest-growing emerging market economy in 2014-15, but its 7.3 percent growth is expected to have matched that of the Asian neighbour, according to official data released

India's 7.3 Percent Growth Neck-and-neck With China's