Market valuation of four of top 10 most valued firms erode by Rs 96,605.66 crore
The combined market valuation of four of the top10 most valued firms eroded by Rs 96,605.66 crore last week.
Software major Infosys co-founder Nandan Nilekani, who returned to the company as its non-Executive Chairman, on Friday said he believes he’s back because “there was no one else”.
Addressing a press gathering here, Nilekani said he had met the Board for the first time on Friday. “The priority now is to make sure the Board and the employees are all on the same page. I have met the Board members one-on-one and also spoke to the employees,” he said.
Advertisement
Stating that it was the Board’s “unanimous” decision in wanting him to return to the company, he said he was back with the company as “more than just a founder”.
Advertisement
“I’m here representing everybody, the shareholders, employees. My goal is to get the stability to the company and take it forward.
“I believe that there’s a huge requirement that people (in the company) are not distracted by all kinds of reporting,” he said.
On the Panaya acquisitions, he said: “I will be taken through the entire investigations and then the necessary action will be taken”.
In an investors’ call that took place on Friday morning with over 600 participants, Nilekani said: “I plan to be here (with the company) as long as it is necessary and I will not be here as soon as I am not necessary.
“I have a set of tasks to accomplish — the CEO search has to be done, the Board has to be reconstituted and the business has to be stabilised.
“I will be there as long as it takes and will work as hard as necessary to make sure Infosys is on its path of full potential.”
Nilekani, 62, who was CEO of Infosys from March 2002 till April 2007 and its Vice-Chairman, quit the company in 2009 to head the Unique Identification Authority of India as its first Chairman till May 2014.
After the software firm’s first non-founder executive Vishal Sikka resigned as the CEO on August 18, Nilekani returned to the company as a non-Executive Chairman of the Board on Thursday.
Advertisement
The combined market valuation of four of the top10 most valued firms eroded by Rs 96,605.66 crore last week.
Chief Minister Mamata Banerjee said on Wednesday that the setting up of the Kolkata Development Centre of Infosys will attract other IT leaders to invest in Bengal.
Chief minister Mamata Banerjee will inaugurate the Kolkata Development Centre of Infosys today.
Advertisement