'Joined Infosys at 26, re-joined at 62,' tweets Nandan Nilekani
For Nandan Nilekani, life has come a full circle. From being a co-founder of Infosys at 26 years of age, he is returning as its Chairman at the age of 62. Breaking his silence for the first time after reports of his return to the IT giant created ripples, Nilekani took to Twitter to make his comeback at Infosys official.
Joined @Infosys at 26, re-joined it at 62. Life does turn full circle!— Nandan Nilekani (@NandanNilekani) August 25, 2017
During an Infosys Conference call on Friday, the company's new Chairman Nandan Nilekani assured investors that Infosys will continue to remain a strong growth company. Nilekani listed out his priorities as he makes a comeback. "Thankful to all board members who resigned. As the Chairman I will look into corporate governance allegations dispassionately. Will bring down the noise in the system first. My biggest job is to align board and shareholders as soon as possible. I will be here as long as it is required," Nilekani said on his plans for Infosys.
While maintaining that there will be no changes in the capital allocation policy and that buyback will continue as planned, Nilekani added that he will discuss growth guidance with investors during Infosys's October conference call. He did not rule out the possibility of looking out for an outsider for the post of CEO.
On Thursday Infosys issued a statement on Nilekani's return to the company as Chairman of its board and non-independent and non-executive director. Nilekani's second inning at Infosys is expected to turn the tide in favour of co-founder Narayana Murthy. With Nilekani's return comes the exit of Ravi Venkatesan as co-chairman, Seshasayee and Vishal Sikka. Nilekani's return has already turned favourable to the company with stocks recovering in the market. The company saw a severe drop of $4 billion in market value soon after Vishal Sikka's resignation but now it is on the recovery path.
Nilekani's return is an indication that the founders of Infosys are now in control. The board will be revamped with the new boss at the helm of affairs. Reports of Nilekani's return to Infosys started making the rounds when investors wrote a letter urging the company to bring him back.