Infy chairman, co-chair must step down before CEO search: Bala

Infosys former CFO V Balakrishnan today asserted that Chairman R Seshasayee and Co-chair Ravi Venkatesan must step down as part of a board rejig before the country's second-largest IT firm kicks off search for a new CEO.

Balakrishnan, whose views mirror those of co-founder N R Narayana Murthy, said heads of the audit (Roopa Kudva) and remuneration (Jeffrey S Lehman) committees should also take responsibility of the corporate governance lapses at the company and resign.

He is of the view that for Infosys to bring in a new CEO without fixing its board first would be "suicidal".

"The four people are relevant because the audit committee chair hasn't handled the severance payment of the ex-CFO and the legal counsel well. The renumeration committee chairman should have looked into those issues when the compensation was discussed," he told

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