MUMBAI: In the wake of public spat between the founders and the Infosys management over corporate governance, experts feel that the matter could have been managed in a much better way had Narayana Murthy exercised some restraint. Stating that Infosys is known for adhering to the highest standards of ethics and corporate governance practices, Amit Tandon, founder and MD of Institutional Investors Advisory Services (IiAS) said the DNA of the company hasn’t changed and it is same as it was when Mr Murthy was at the helm.
He said Mr Murthy, being a credible voice in the industry, could have acted in a more matured manner. “With credibility comes responsibility. The frequency with which Mr Murthy tried to repeat the same allegations against the management in public was very immature,” he added. Without disputing the rights of Mr Murthy to raise important issues concerning the company, Shriram Subramanian, founder and MD of InGovern Research Services, a leading corporate governance advisory firm, said the manner in which the entire matter played out in public is very unfortunate. “The mess could have been sorted out internally through private discussions with the board and the management. However, right from the beginning, the trust deficit between Mr Murthy and the board started to widen to its current state of brinkmanship,” he said.
On a similar note, J.N. Gupta, MD of Stakeholders Empowerment Services, pointed out that different individuals have different style of functioning and one cannot expect the company to be run in the same manner. “When the board in its collective wisdom has taken a decision, it is very unfair on the part of Mr Murthy to keep harping on the same allegations,” he said. Mr Gupta, however agreed with Mr Murthy’s demand for making the Panaya takeover report public as it will put to rest all matters regarding transparency issues.
