Infosys appoints TVS Capital's Sundaram as independent director

Sundaram is the 4th independent director to join Infosys since Sikka took over the IT firm 3 yrs ago

Infosys has appointed Sundaram as an independent director on the board of  the company. He is the fourth independent director to join India’s second largest software exporter since chief executive Vishal Sikka took over three years ago.

Sundaram’s role would be effective from July 14. 

He is currently vice-chairman and managing director of TVS Capital Funds Limited. Before this, he served in various leadership capacities in Unilever Group since 1975 including director of finance & IT, and vice-chairman of Hindustan Unilever Limited. Sundaram is a Fellow of the Institute of Cost and Management Accountants, India and a postgraduate in management studies.

“He brings extensive experience in the field of finance and strategy execution. I am sure that the Board will immensely benefit from his expertise,” said R Seshasayee, chairman of the Infosys Board in a statement. 

Since, Sikka became the first non-founder chief executive, Infosys board has appointed Roopa Kudva, partner and managing director Omidyar India, Punita Kumar-Sinha, founder and managing partner of Pacific Paradigm Advisors, an independent investment advisory and D N Prahlad, a former Infosys employee.

The appointment of Sinha was contentious as she happened to be the wife of Union Minister Jayant Sinha. Similarly, Prahlad’s appointment was also contentious as he is a former Infosys employee and a relative of the company’s founder N R Narayana Murthy.

THE APPOINTMENT

* Sundaram is the fourth independent director to join Infosys since chief executive Vishal Sikka took over the IT firm three years ago

* He is currently vice-chairman and managing director of TVS Capital Funds LTD

* Corporate governance experts are surprised by Infosys decision to announce appointment of independent director a week after the company’s annual general meeting

Corporate governance experts are surprised by Infosys decision to announce appointment of independent director a week after the annual general meeting. “The timing seems to be strange to me. What is the reason behind inducting a director one week after the AGM. They could have done it one month before and put it up as a proposal during the AGM,” said Shriram Subramanian, founder and managing director of advisory and corporate governance firm InGovern Research Services. Analysts say Sundaram’s stints in leadership roles spanning across three decades at Unilever is an advantage in terms of corporate governance at Infosys board. The IT services firm was questioned by its founders recently over alleged “lapse of governance”.