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Seshasayee will succeed the current Chairman, Deepak Satwalekar, whose term is scheduled to end on September 30.
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'Risk taking by itself is not a problem but most don’t have the resources to back that with capital. Going global also means taking risks of a different level.'
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Another boardroom battle is set to play out at the country’s second-largest IT firm.
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The three-day annual strategy meeting at the software major's Mysore campus is generally dedicated to charting out a business blueprint, but recent friction between the founders and the management will also need to be addressed.
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The three-day annual strategy meeting at the software major's Mysore campus is generally dedicated to charting out a business blueprint, but recent friction between the founders and the management will also need to be addressed.
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Infosys Chairman R Seshasayee on Tuesday said he has reached out to the company's billionaire co-founders to see that the rift between them and the management over corporate governance issues does not spill into the open.
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On Monday, the company's board led by chairman R Seshasayee held a press conference to specifically answer the charges of corporate governance violations that it has been accused of.
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The board also defended CEO Vishal Sikka‘s travel by private jet. Seshasayee said that in the last couple of months itself, Sikka had travelled 50,000-60,000 km a month and of this only 8 percent was through chartered flights.
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Infosys former CFO V Balakrishnan
today said he was disappointed that the company did not offer
"concrete answers" on matters like CEO compensation and
severance pay to former executives, and insisted that the
board need to take the "first step" to address the concerns
raised.
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Marti G Subrahmanyam, whose name was suggested as a potential Infosys co-chair by co-founder N R Narayana Murthy, today said he will be happy to help with his "counsel if called upon to do so".
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The city-based firm has also inducted founder and CEO of Surya Software Systems D N Prahlad as an independent director on its Board, effective October 14, 2016.
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The larger issue on GST according to R Seshasayee, Chairman of Infosys Board is how the country manages development of states in a manner that some states aren't left behind as laggards.
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On cash utilization, Seshasayee says idle cash beyond a point is not good for shareholders, and that the company will have to become active on acquisitions
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This was Infosys' first AGM without any of its founders on the board or associated with the functioning of the company in any way. Murthy attended today's AGM as a shareholder and was accompanied by his wife Sudha Murthy and son Rohan Murthy.
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IT major Infosys today appointed Board member R Seshasayee Non-Executive Chairman in place of KV Kamath, who is set to take over as head of the New Development Bank of the BRICS group in July.
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According to a poll, the government still enjoys high approval ratings from corporate India. The two areas where there is clearly some displeasure include maiden Budget and a continuation of tax uncertainty.
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Executive vice chairman R Seshasayee, Ashok Leyland equals India's current mood to being in a twilight zone. He says the country's economics is held back by politics which is confusing and murky.
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In the April-June quarter, Leyland reported a loss of Rs 142 crore compared to a profit of Rs 67 crore in the same period last year.
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R Seshasayee, Executive Vice Chairman of Ashok Leyland believes FY13 is a tough year for the commercial vehicle industry. He said that growth is troughing out and expects improvement going forward.
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Speaking to CNBC-TV18, R Seshasayee, executive vice-chairman of Ashok Leyland feels that it is logical to assume a rollback of concessions on excise duty. He also mentions that it is possible for CV makers to absorb the duty hike. He also talks about, if the monetary conditions are favourable then a duty hike may not impact much.
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R Seshasayee, Executive Vice Chairman of Ashok Leyland cautions against overreaction to the IIP results as there is still hope left for some growth because we are not heading to the recessionary cycle.
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Brand India has taken a hit thanks to more and more corruption controversies and scandals that keep cropping up. Shereen Bhan spoke to Ashok Leyland’s Executive VC, R Seshasayee to find out how all of this is impacting corporate India and what do corporate leaders think about the situation.
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R Seshasayee, CEO of Ashok Leyland tells CNBC-TV18 that the overall production of durables might get affected due to people’s restraint on taking credit due to the high rates.
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R Seshasayee, MD, Ashok Leyland, in an interview on CNBC-TV18 gave his views on how he read the budget presented by finance minister Pranab Mukherjee for financial year 2011-12. On the fiscal deficit he is not so bullish. “Fiscal deficit targets will be tough to meet,” he says.
_356x200_0740_356.jpg?impolicy=website&width=135&height=80 "Better engagement with shareholders on agenda at Infosys meet")
