Business

After Board-Founders Tussle, Infosys Appoints Co-Chairman

Ravi Venkatesan. Credit: Infosys.com

Ravi Venkatesan. Credit: Infosys.com

Bengaluru: Infosys on Thursday appointed independent director Ravi Venkatesan co-chairman amid calls from the founders to diversify the board.

The board expansion comes against the backdrop of an ongoing tussle between the founders and the management over contentious issues such as CEO salary hike, severance package to former employees and corporate governance standards.

“Ravi will help me enhance the board engagement in supporting the management in execution of the company’s strategy,” Infosys chairman R. Seshasayee said in a statement.

Venkatesan, who has been on the Infosys board since April 2011, has made “valuable contribution to the development of strategic direction of the company during his tenure”, the company said.

“This is an exciting time for the technology industry and I am delighted to have the opportunity to work more closely with Sesh (Seshasayee), Vishal and his leadership team in their transformational journey,” Venkatesan said.