Need of the hour is to keep the core of Infosys intact

Vishal Sikkas exit from Infosys seems to have been accentuated by the streak of comments made by co-founder N.R. Narayan Murthy. The comments bordered on complaints, raising issues of corporate governance and at time accusations. The episode, like a soap opera with significant twists and turns, has been played in public glare over the last few months.

The resignation has had its first casualty by way of wiping off the value of Infosys stock on the bourses. The impact was close to Rs 22,000 for Infosys and Rs 700 crore of mark down for Murthy`s stock.

The episode rakes up significant issues about corporate governance and transparency, the agency problem (precisely the question of control between shareholders and professional management), important issues about the strategy of Infosys and the pressure to perform in a volatile global environment.

Infosys approves Rs 13,000 crore share buyback plan after Sikka resigns