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Murthy unwell, call with Infosys investors postponed to 29 August

The Infosys board and Murthy have drawn battle lines, each standing its own ground on their stand.

BS Web Team 

Narayan Murthy
Narayan Murthy

founder NR Narayana Murthy’s address to investors has reportedly been postponed to next Tuesday as he is unwell. Also read: saga: What markets want to hear in NRN Murthy's investor call

Murthy was supposed to hold an investors’ call on Wednesday at 6:30 PM to explain why the values of the company he built have been diluted and how that is bad for in the long run. However, the call has been deferred to August 29. Murthy cited health reasons for the call being postponed.
 
The board and Murthy have drawn battle lines, each standing its own ground on their stand.                   

The controversy has hit investors’ sentiments and employee morale. 

The company is yet to begin a hunt for the next CEO, which has to be completed before March next year, when Sikka, who now is the executive vice-chairman, will leave the company. Till then U B Pravin Rao would be the interim CEO. 

The founder’s call with analysts was supposed to come ahead of Infosys' attempt to meet clients and institutional investors to discuss the road ahead. R Seshasayee, chairman of Infosys, will join Sikka to meet clients and investors in the US and UK, while Venkatesan will reach out to investors in Singapore and Hong Kong.

is also reaching out to co-founder Nandan Nilekani to mediate and buy peace with Murthy. Venkatesan had met Nilekani to help negotiate with Murthy but has not seen progress, a source said. Nilekani did not respond to a request for comments.

First Published: Wed, August 23 2017. 11:12 IST