On 18 August, the Infosys board released a statement squarely blaming Mr. Murthy for the CEO's resignation, and it went a little further than that.
The board goes again:
It said Mr. Murthy has repeatedly made inappropriate demands:
It concluded by stating that the board has no intention of asking Mr. Murthy to play a formal role in the governance of the organization. What a remark.
While I read the statement I found it a bit funny, and my take on the whole drama was that it was funny. Post appointment of Mr. Nilekani as the new chairman, there was a big shuffle in the board, which was great, although there was a need for a little more. Two former CFOs of the company were apt when they said what they said.
Then came some more funny moments with the board. On 25 August, the board made a statement again:
I read it again for the sake of clarity; I said, no, it can't be that comical; heck, it was. First, blame the guy, then say it was not the intention to blame. People around are not idiots. The height of immaturity was apparent in the 18 August statement. And now, I don't know what to say. The better thing would have been either to retract the previous statement, or if that was not possible, at least keep mum. The board has been reshuffled already; all that is needed is to repair the damage and look to the future.
Investors don't want the shit like, it wasn't our intention to...They are more mature. Yeah, there have been more articles on how the founders have to get off. Basically, they just don't get the point Mr. Murthy is making. You do have some rotten apples in the box, which you cannot help.
The board is in the right hands now; and we do hope that Infosys gets out of the mess.
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