Infosys AGM: Nandan Nilekani says company to focus on execution and stability

Infosys co-founder Nandan Nilekani

Infosys non-executive Chairman Nandan Nilekani said on June 23 that India’s second largest software exporter was ready to get back to faster growth as the focus shifts to execution of previously laid out plans.

“Our focus is now on relentless execution. Will spare no efforts to do all it will take to realise our aspirations," Nilekani said, while addressing shareholders at its 37th Annual General Meeting in Bengaluru.

He further said the company took stock of its current capabilities and was convinced that there was no better time strategically than now for Infosys.

The AGM was the first for Infosys’ new chief Salil Parekh who turned up looking dapper in a crisp suit.

Apart from Nilekani, none of the other co-founders were present. NR Narayana Murthy did not attend as he was out of the country.

Meanwhile, Nilekani stressed that Infosys has worked on addressing stability issues that have plagued the company since the past couple of years.

“When I stepped for the second time into Infosys in August last year, one of the concerns raised was about the company's stability and we have taken several steps to remedy this. We have a stable board and management and everyone is united,” he said.

His comment was seen as assuring shareholders about Infosys’ future after a bitter public battle ensued between the first non-co-founder CEO Vishal Sikka and Infosys co-founder Narayana Murthy over corporate governance issues.

The spat eventually led Sikka to quit the firm in August last year. Capgemini veteran Parekh stepped in as CEO in January this year and has been talking about his four-pronged strategy for Infosys.

A marked difference in commentary from Sikka’s time is focus on agility and digital. Sikka spoke more about innovation and changing the way the company thinks about approaching problems.

Another difference was that the management and board turned up in crisp, formal wear as opposed to the more relaxed Infosys T-shirts they wore to earlier AGMs.

The board and mangement heard questions and comments from shareholders across Bengaluru and Mumbai and provided answers at the end.