Nandan Nilekani appointed as new Infosys Chairman, Seshasayee quits

New Delhi: Infosys on Thursday named former CEO and Aadhaar-architect Nandan Nilekani as its new chairman, replacing R Seshasayee.

Nilekani was one of the seven founders that set up Infosys more than three decades ago and served as its CEO between March 2002 to April 2007.

 

In a late evening announcement, Infosys said its board of directors has "unanimously" approved Nilekani's appointment, terming him an "iconic leader."

Seshasayee, whose resignation along with those of other key executives including Sikka has been accepted by Board, said, "Nandan is an ideal leader for Infosys at this stage in company's development."

"His appointment will allow Infosys to focus on strategic changes it needs to make, in order to capitalise on the attractive opportunities in the years ahead," he said.

Ravi Venkatesan also resigned as co-chairman, but will continue as an independent director.

Vishal Sikka, who quit last week as CEO but was made vice-chairman till his successor was appointed, also quit the board with immediate effect, the company said in a statement after its board meeting.

The board shake-up meets a key demand of the founder group led by N R Narayana Murthy, who had demanded a clean-up at the country's second largest software services firm.

Two independent directors -- Jeffery S Lehman and John Etchemendy -- also resigned from the Infosys board with immediate effect.

In a sudden move, Infosys' first non-founder CEO, Vishal Sikka, resigned last week citing slander by founders.

The Infosys board issued a stinging statement blaming Murthy for the CEO's resignation. Infosys has said it will find a CEO replacement latest by March 31, 2018.

On August 18, the day Sikka announced his resignation, investor advisory firm Institutional Investor Advisory Services (IiAS) said it favoured Nilekani being brought back on the board as its non-executive chairman.