Nandan Nilekani likely to head Infosys

Infosys under Nikelani is expected to tread cautiously

Infosys's third largest institutional investor OppenheimerFunds has said its views on the company have not been "materially" impacted by CEO Vishal Sikka quitting.

Nandan Nilekani left Infosys in 2009 to become the Chairman of Unique Identification Authority of India (UIDAI). The TV channel quoted a source as saying that Nilekani's role would be "cleared" in the next 48 hours. Following the dramatic events leading to Vishal Sikka's resignation and consequent plunge in the company's shares, Nilekani is likely to return to the helm of affairs. With this, the company now stands at 10th position on the top 10 list.

"It must convince Nandan Nilekani to join the board once again as its non-executive chairperson", it had said in a report, adding that Nilekani should not see this as any other corporate job as Infosys is at the heart of Indian IT and its success will foretell how the sector will position itself for future.

Nilekani is 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.

Murthy was to interact with the company's investors across the world on Wednesday evening at 6:30 p.m. through a conference call hosted by global asset management group Investec as it had earlier announced.

In two days, the company's market valuation declined by Rs 33,911.93 crore.

Mr. Sikka, Infosys's first non-founder CEO, resigned last week citing slander by founders.

It is also to be remembered that Murthy has not yet responded to the board's frontal attack on him holding him exclusively responsible for Sikka's resignation. He is also someone who Narayana Murthy will back completely.

"The recent developments are very concerning to us", the email read.

According to a report, the Nilekani family owes a 2.29% stake in Infosys, as per the quarter ended June this year.

Infosys co-chairman Ravi Venkatesan on Tuesday met finance minister Arun Jaitley even as media reports suggested a more fierce battle may be brewing between the co-founders and the current management.

However, Infosys was unavailable for any comment on this matter.



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