MUMBAI: Investors and analysts are seeking clarity on new Infosys chief executive officer Salil Parekh’s vision for reviving growth, the role of the company’s founders and the possibility of further senior management exits in the wake of his selection. Still, investors were welcoming — the stock rose as much as 4% to the day’s high of Rs 996.95 before closing at Rs 985.30, up 2.8%. “The board composition is still a pending task given several empty chairs vacated by the last board. Infosys has to tread carefully with its new board.”The founders’ role in the company tops the list of concerns among long-term institutional shareholders, among the reasons for Sikka’s resignation from Infosys in August.Co-founder NR Narayana Murthy was sharply critical of corporate governance practices at Infosys since Sikka, the company’s first non-founder CEO, took charge in 2014. He was opposed to the Rs 17.38 crore severance package for former chief financial officer Rajiv Bansal and a pay increase for Sikka soon after his first year.

Source: Economic Times December 04, 2017 18:45 UTC