Sir, Mr Sikka was okayed by Mr NRN and this is a fact. It is said that the CEO is
supervised by the BoD. It is claimed that Mr NRN was not on the Infosys board. Who among
the many board members correctly interpreted the Vision and mission of the company. We
have no idea. But they all backed the judgement and acumen of Mr Sikka. Why then do the
issues not get resolved internally.
The stories of incompetent or toothless BoDs are a legion, it happened at Barings Bank,
Lehman Brothers and even at Satyam. Perhaps, this was happening at Infosys also. We also
know of cases where talented and highly effective CEOs were let go once they strayed away
from the Vision and Mission of the company.
The Company now has a crisis on hand and demands a strong hand to pull the company out of
it.
Regards,
K.Paranjpe
On Mon, 21 Aug 2017 16:20:39 +0530 Stephen Narayanan
>The way the cookie crumbles.....Yes, Tata's were first conflict example and then Infosys
followed. Founder entrusts the reigns in the hands of people who they expect would lead
the company to greater glory following on the principles laid down by them but this is
where the road diverges...after following for a while, the CEO starts asserting himself
to prove perhaps that he is better than the best and also he has perhaps plans to attract
other corporate bigger houses (man's perennial greed). So down the line the principles
are compromised and when the founder takes note of this, he is anguished that his
handpicked manfriday is drifting away on his own...the only option then is to eject him.
Ratan Tata did it ( one of his close parsi clan member) and NRN did it. But as disclosed
by Virender Sir, the other side of the story was not known to even the Board members who
initially claimed that NRN was stiffling Vishal Sikka...whereas it was Mr.Sikka who had
stage managed the entire processes with remote operations from U.S. and a PR Agency who
enjoying the paymaster Sikka was projecting him as a very successful CEO misleading the
Investors & the management. Knowing NRN, once the dust settles down, he would no doubt
have a good measure of the PR agency and why not..? They need to be sent behind bars for
misleading propaganda.
Rgds,Stephen NarayananFreelance Educational Consultant/Corporate Training
facilitatorMob.:-9868386192
On Mon, Aug 21, 2017 at 12:36 PM, Rajendra Deshpande
wrote:
Dear All,
I feel this is mainly the problem of generation Gap.The older generation NRN murthy
simply could not handle Sikka who has different style of Working,Murthy owns only 3%
equity.
If in PLace of Sikka if it would have been Murthy's son what would Murthy Do ?
Thanks
Rajendra.Deshpande.. B. Pharm. M.M.M. PGDIT.PhD ( In Process ) PhD.Fellow at
Central University. Center for Gandhian Thought & Peace Studies. Mobile:+91
9326354999.Whats AP +91 9604679693
On Sun, Aug 20, 2017 at 10:52 PM, Usha Gowri
The board shockingly says they didn't know about the severance pay of Rajiv Bansal
And yet the Board finds NRN a problem? Usha K Sankar
PresidentCo.Re Foundation
Partner Tugboat Consulting and Marketing Services LLP
https://groups.google.com/forum/#!forum/natural-foods-handicrafts-textiles
What is to be does not necessarily have to be.
Let go or get dragged
On Sun, Aug 20, 2017 at 8:59 PM, virendra goel
We need to know other side of the story too that reads as under: Goodbye Mr. Sikka…Your
Legacy is a series of failed promises. Vishal Sikka will go down in history as possibly
the most controversial CEO in the history of corporate India. His run ins with the
company's founders began with his very appointment. He was supposed to be based in India,
but he "chose" to unilaterally be based in the US. He was supposed to spend 17 days in
India but he chose not to do so as the clients were in US. His autistic child was a
reason but he never lived up to his other promises either. Unfortunately, his mistake was
that he thought applying American rules to an Indian Company with iconic founders would
work for him. He never spent time in India or even bonded with employees. He talked down
on them and got rid of employees like nine pins. When Rajiv Bansal tried doing his job
right, he asked him to do "something else". I am yet to see any CEO who comes in with
such equity and then messes around with everyone in the company – from founders to key
team members. When Rajiv Bansal refused to "do something else" Sikka asked David Kennedy
to get id of him. Yes, get rid of him is the operating word.In large corporation, people
mean nothing but when great companies led by people like Vishal Sikka start deploying
their fire power against people, the result has to be disastrous for everyone. Along with
setting a target of $20bn., he also promised 30% automation and a $1.5 bn in revenues
through the inorganic route. He failed on all counts and when he was asked to increase
entry level salaries, he refused to do it but enriched himself. He tried buying out
journalists with access and interviews. Lied to board members and exchange and
regulators. The board shockingly says they didn't know about the severance pay of Rajiv
Bansal as David Kennedy hid it. But why did Kennedy hide it? At the behest of Sikka. And
why should the board not be punished? Ravi Venkatesan said they goofed up and Seshasayee
said it was an error of judgement. But who paid a price? Investor did. In the event,
legal counsel David Kennedy struck a silent deal with Rajiv Bansal and came to an
agreement but did not give it in writing, that is when Bansal refused to sign the October
quarter numbers in 2015. Bansal is known to be an upright, honest and good CFO, even if
he was a bit young. He took a part of his severance and left, but Infosys dropped the
remaining pair of his severance and planted a story in a leading paper saying "Bansal
transferred official mails to his personal email". The tool that Sikka used was the PR
agency in India which enjoys significant clout with media houses and represents a large
number of corporates. My heart breaks that newspapers today buy one side of the story
which is a commentary of the CEO and the PR Agency. Bansal paid a price for doing his
job. I am yet to hear of a CEO who goes to a press conference and says, "There were
chemistry issues with the CFO; so he left". Shows Sikka was never ready for the job. No
seasoned CEO would ever talk badly about his CFO in public or say he didn't get along
with him. Infosys CFO Bansal made the cardinal mistake of standing up for what he
believed in and protested against the Panaya deal. He wrote extensively on the conflict
of interest and valuation. Sikka was a major beneficiary of a weak non-executive board
that gave him a free hand. He threatened to quit every time a question was raised and so
the board backed off and let him control the narrative. Sikka spend more time on PR
agencies than on business or his team because he was busy building an image for
himself. When Sikka joined Infosys, the company's shareholders and promoters were
enthused by his worldview on how the IT services company had to transform. But within six
months, he was making controversial acquisitions and firing his CFO Rajiv Bansal. From
the start, Sikka did nothing to get a buy-in from stakeholders of his CFO on anything –
acquisition of Panaya for a consideration of $230mn just after it raised a round of
funding at a valuation of $162 mn. Sikka will go down in history as a brilliant case
study of a CEO who did not get along with his stakeholders, founders , key management
personnel and even other employees. Sikka chose the wrong battles from the start. He
chose to increase his salary before he demonstrated his mettle and turned around the
company. Then, Sikka went on to arm twist the weak board to agree to a massive severance
package of $22 mn. Vishal Sikka employed every tool in the book to extend his salary. He
divided the board and spread campaigns against Rajiv Bansal and various other board
members, but the truth is that you cannot fool everyone all the time. The market soon
enough figured that he was nowhere near the $20 bn target, which got him his salary hike
but nothing for the company. Sikka used the PR machinery extensively to project him in
the media and his version of the story. His spin doctors accused the founders of
interfering and derailing the transformation of the company. He I am tole treated Indian
employees badly and spoke down on them. Chickens have come home to roost for Vishal Sikka
finally. Days after Ravi Venkatesan spoke to me on the failures of the management and
CEO, Vishal Sikka has finally decided to put in his papers. Getting the interview
published was not easy and Sikka and his machinery there too controlled the narrative and
completely changed the interview. When I asked Sumit Virmani, Chief marketing officer on
why they did that, he assured me that it would build a better relationship even though
the company had doctored the interview completely. These are times we live in and people
like Sikka murder reputations and destroy careers. Hope his departure helps Infy find its
feet again. And an investigation committee brings out the reports and the other details
of Panaya deal. Thoughts on Sikka resignation and Infy by Business Standard Associate
Editor, Malini Bhupta. RegardsVirendra Goel From: join_mtc@googlegroups.com
[mailto:join_mtc@googlegroups.com] On Behalf Of supriya biswas
Sent: Saturday, August 19, 2017 6:23 PM
To: join_mtc@googlegroups.com
Subject: Re: [MTC Global] Why can't Founders get along with the CEOs they appoint? [After
Vishal Sikka left this morning] It is because we are yet to emancipate ourselves from the
mindset of treating employees as servant not colleagues. With proud claims like we are
open and treat people as our equals - those are plain and simple whitewash and hoax. We
are still obsessed with the 'Sir' culture. Besides, most groups have a caucus and they
run the show. It only happened in Apple that founder was thrown out. Apple is one of the
top three brands of the world because of such professional outlook that is free from
emotional bunglings Sent from my Samsung Galaxy smartphone. -------- Original message
--------From: Purnima Roy
To: join_mtc@googlegroups.com Subject: Re: [MTC Global] Why can't Founders get along with
the CEOs they appoint? [After Vishal Sikka left this morning] V true. But so disgraceful
to wash your dirty linen in public. It was TATA and now Infosys!! Best Regards.Purnima
Dey RoyCEO-PGTA India From: join_mtc@googlegroups.com
behalf of Dr. S. S. Dey
Sent: Friday, August 18, 2017 10:48 PM
To: join_mtc@googlegroups.com
Subject: [MTC Global] Why can't Founders get along with the CEOs they appoint? [After
Vishal Sikka left this morning] 1. The founder has never experienced people in his
Company being more powerful & taller than him. He has seen people in shadows; not as the
Sun. When the appointed CEO begins to become bigger than his past, he can't reconcile
with it.2. The petty becomes big. Molehills become Mountains. Small issues the new CEO
does makes the founder explode. It's just pent up emotions looking for an excuse to be
released.3. Founders feels very uncomfortable when people in their companies start
becoming "irrationally rich". It's an emotional weakness created by struggling for years
and going through horrid times. When money never came easy, it can't be given away easy
either.Regards,Dr. S.S. Dey--
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Rajendra.Deshpande.. B. Pharm. M.M.M. PGDIT.PhD ( In Process ) PhD.Fellow at
Central University. Center for Gandhian Thought & Peace Studies. Mobile:+91
9326354999.Whats AP +91 9604679693
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Re: [MTC Global] Why can’t Founders get along with the CEOs they appoint? [After Vishal Sikka left this morning]
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