Infosys Murthy, other co-founders skip AGM again

For the second consecutive year, Infosys co-founders, including N.R. Narayana Murthy, skipped its 37th Annual General Meeting (AGM) for 2017-18 fiscal here on Saturday.

"Some of the co-founders were travelling and hence couldn't be part of the AGM," co-founder and now Chairman Nandan M. Nilekani told reporters after the meeting.

Besides Murthy and Nilekani, S. Gopalakrishnan, S.D. Shibul Lal, K. Dinesh, N.S. Raghavan and Ashok Arora are the co-founders of the $10.9-billion global software major.

Chief Financial Officer (CFO) M.D. Ranganath said invitations to attend the AGM were sent to all the stakeholders, including the co-founders.

"I'm not aware of why they couldn't join the meeting. Invitations to attend the AGM were sent to all the stakeholders," Ranganath told IANS.

About 800 retail investors in individual capacity or with families attended the AGM.

The co-founders, including Murthy, had kept away from the 36th AGM held last year for the 2016-17 fiscal, which was marred by corporate governance issues.

"When I stepped for the second time into Infosys in August 2017, one of the concerns raised by you (investors) was about the company's stability. We have a very stable board, everybody is united and we are on the verge of something momentous. The focus is on execution," Nilekani told the shareholders here.

--IANS

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