Infosys boardroom battle: Narayana Murthy's address to investors postponed

Infosys co-founder Narayana Murthy's address to investors has reportedly been postponed to next week.

Murthy was scheduled to address investors today, days after being blamed by the Infosys Board for Vishal Sikka’s resignation as MD and CEO.

According to reports, the meet has been postponed as Murthy has taken unwell.

Murthy was expected to address concerns over the ongoing chaos at the IT-giant.

Vishal Sikka, the first non- founder CEO of Infosys, resigned amid heightened acrimony between the board and the high-profile founders led by NR Narayana Murthy, saying he faced 'false, baseless, malicious and increasingly personal attacks'.

"Narayan Murthy’s continuous assault is the primary reason that the CEO, Dr. Vishal Sikka, has resigned despite strong board support," Infosys had said in a statement released on Friday.

However, reacting to the allegations, Murthy had said, "I will reply in right manner, at right forum and at an appropriate time. Anguished by allegations, tone and tenor of statements made by Infosys board, below my dignity to respond to baseless insinuations."

According to reports, Infosys lost nearly Rs 34,000 crore in carket capitailisation (market-cap) in the past two trading sessions after Sikka's resignation

In the last few months, the country's second largest software firm, has seen a number of senior-level executives resigning. They include Anirban Dey (Global head and chief business officer of Edge products), Yusuf Bashir (MD, Infosys Innovation Fund) and Ritika Suri (executive vice-president).

Infosys Technologies Limited