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Software major Infosys has gone through a churn over the months, as its boardroom battles over a spate of issues led to the exit of its first non-founder, executive Vishal Sikka on August 18 and the return of its co-founder Nandan Niliekani as non-Executive Chairman on Thursday.
Among the issues red flagged by the promoters, especially N.R. Narayana Murthy were erosion in corporate governance, huge salaries to top executives, costly acquisition (Panaya) and a large severance package to an ex-CFO.
February 9: Murthy expresses concern over governance issues in the Board.
February 13: Board denies rift with Murthy on governance issues, defends Sikka, acquisition of Panaya and high severance pay to ex-CFO Rajiv Bansal and General Counsel David Kennedy.
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