By | Ramesh Ranjan | Editor www.humanengineers.com
For credibility sake its time Narayan Murthy places the facts before the Investors & general public or …………..
Three of the Ex Board Members and an earlier Board Member have all clarified their point of view and categorically denied any unethical behavior or wrong doings by either Vishal Sikka or the Board. Time and again the Board Members have termed Murthy’s accusation as personal, false and slanderous.
If Murthy has any evidence contrary to the same, he must disclose all material evidence available with him before the public and not just keep repeating unsubstantiated charges. If not he should apologize and compensate the Board Members and the investors for the damage he has done to the reputation of the Board Members and Infosys at large.
Would he find it ethical if someone made unsubstantiated charges against him.
In fact contrary to his stated public stand on Corporate Governance, isn’t he guilty of
- Making a comeback after retirement after having taken a lofty stand that no one is indispensable and should retire at the age of 60 years and going on to say that he regretted having quit. After all he had set the rule
- Promoting his son and employing him as an Executive Assistant to him in his second stint post retirement. In earlier years, Murthy had time and again reiterated that none of the founders’ children would work at Infosys. Yet Rohan joined Infosys as Murthy’s executive assistant.
- Promoting his close relative DN Prahalad to the Board just recently
He can no longer claim to be “holier than thou“.
Every passing day, his reputation is shrinking. As the earlier Board Member Omkar Goswami had said
“Enough is enough. You have drawn first blood. Do not mortally wound the organisation by persisting in your actions. Let Infosys get on with its business, heal itself from the injuries that you have inflicted and again grow shareholder value. Learn to walk away, as you had promised when handing the reins to Vishal. The corporate governance halo that was conferred upon you is shrinking. Let it not disappear.”
Looks like the Corporate Governance halo around Murthy was a craftily created PR campaign and is showing up its true colors now.
Unfortunate that Nandan Nilekeni has thrown his hat into the ring and risking his credibility & reputation.
Murthy reminds us of Bhishma, who clings to immortal life and control over the kingdom, refusing the next generation takeover, with all their imperfections
The issue here is not about who is right or wrong (Board vs Founders). Its about letting go and abdicating gracefully. It’s about reposing confidence and trusting the new Leadership & the Board Members. It’s about allowing the new team to chart its own destiny and in the process if they make mistakes, let them to learn from its mistakes. The transition between the old guards (Founders) and the new team (Professional CEO / Board members) should be about learning how to build enduring institutions with changing times and not enforcing its will for perpetuity.
It’s about realising that we can’t be there forever and that one’s time is over at the helm.
It appears that with the Tata & Infosys saga, India’s business community has shown that founding members of businesses, great and small, are unable to do one thing elegantly – passing of the baton! They want cling on to the throne, and to power, even after retirement, pretending to be guides, and mentors, but actually yearning to be PUPPETMASTERS.