Infosys co-founder and former chairman N.R Narayana Murthy has called off his fight with the board saying that he has made his point and the company has to sort it out. He also called Infosys Chairman R Seshasayee a man of “highest integrity.”
“Let me stop. I have made a point, paying such large sums of money is confusing. Now they have to sort it out,” Billionaire Murthy said in an interview to Bloomberg. “I felt that I don’t want it to snowball. I don’t have the time. Neither should the board and the management be spending time on it,” he added.
Murthy’s announcement has come just ahead of an Infosys press conference in Mumbai scheduled at 6:00 pm on Monday.
Murthy and several other founders had criticised the management of Insfosys. They questioned the spike in compensation for Chief Executive Officer Vishal Sikka as well as severance pay for two departing executives. Murthy was supported by his fellow billionaires Nandan Nilekani and Kris Gopalakrishnan.
Asia’s second-largest IT services company, Infosys works for many of the world’s biggest corporations, including Toshiba Corp.