Infosys chairman rubbishes reports of boardroom battle

There were reports that the founders of the IT giant are not happy with the current leadership team.

Mumbai, Feb 13: Seeking to allay fears about a boardroom battle in the IT major, Infosys chairman R Seshasayee on Monday said there is no battle between the board members and promoters of the company.

"I don't think there is any battle. There is no conflict of interest, there is only convergence of interest," he said at a press meet in Mumbai.

Seshasayee also added that it is the job of the company's board to listen to all.

Markets regulator Sebi had earlier said that it was keeping a 'close watch' on the developments in Infosys to ensure that minority investors' interest is safeguarded.

Infosys has become the latest major corporate to attract Sebi's attention for alleged corporate governance lapses being played out in public after Tatas, United Spirits and Ricoh India.

While Infosys and its top management led by CEO Vishal Sikka have presented a brave face saying all was well with the company and there have been no corporate governance or any other lapses, there have been reports that the founders of the IT giant are not happy with the current leadership team.

Some former Infosys executives have also raised questions about the way the company is being run currently, as also about the pay packages of some people including severance deals given to a few

IANS