Infosys: Outsiders not welcome
Infosys has had only two external CEOs, the rest being co-founders. There have been several instances of whistle-blowing during the stints of outsiders Vishal Sikka and now Salil Parekh.
Infosys has had only two external CEOs, the rest being co-founders. There have been several instances of whistle-blowing during the stints of outsiders Vishal Sikka and now Salil Parekh.
The Bengaluru-based IT major has increased its FY20 revenue forecast to 10%-10.5%; company’s board says whistleblower complaints against CEO and CFO “are substantially without merit.”
Indian markets regulator SEBI has also asked the Bengaluru-based IT firm to provide information concerning the anonymous complaints.
Justice Srikrishna panel finds Kochhar, the former MD and CEO of ICICI Bank, violated the bank’s code of conduct. In a statement, Kochhar says, “truth will ultimately prevail”
ICICI Bank’s stock rises nearly 5% despite quarterly losses as investors draw comfort from NPA clean-up steps.
After a board meeting on Monday, ICICI Bank released a statement saying Chanda Kochhar would continue as MD and CEO, but would remain on leave till the enquiry is completed.
Indefinite leave or planned leave aside, investors say Kochhar’s disassociation with ICICI Bank is in the bank’s best interest.
The bank’s board agreed to an independent probe into allegations of nepotism against its MD and CEO.