When you hire a global guy to run a conservative company, Murphy should know there will be cultural and business challenges which may not sync with his view. No need for sikka to prove to anyone about his capability. Article is totally biased.
Net result, Mr NRN who claims to be the saviour of Corporate Governance, managed to dislodge a board with reputed professionals. And these independent Directors did not uphold principles of Corporate Governance by not standing upto the issues and resolving them amicably. Every one has tried to take care of his/hers reputation. Sorry state of affairs to corporate governance. Prasad
Yes, he fired himself due unavoidable questions which do not have any any logical answer, corruptions. Increasing Revenue is not a big issue, if some good financial audit firms go for independent audit then much irregulaties may seen which have increased the Revenue as well Profit.
1) His shady deals acquire a company for $200 million and not share legal report with shareholders.. This could be concealment of many things 2) bizarre compensation packages and fantastic severance pays of Infosys' CXO level executives. 3) abysmal poor performance Is Sikka really a CTO material, and not CEO material? Peter's principle is successfully applied in his case..... Narain Murthy accomplished his task as vigilant shareholder
Re: Wasn't Sikka A crook ?
by P S SHAH on Aug 25, 2017 11:26 AM
I am a shareholder of Infosys and getting regularely reports from the company about their performance and do not agree with critical view of Sudhir Bhist about Mr Sikka and the performance of Infosys under him. The person without any adequate knowledge on finance can not do any proper analytical study of any one's performance and come to his own conclusion.The table used by Sudhir Bhist clearly show his lack of knowledge on financial matter.
Re: Re: Wasn't Sikka A crook ?
by Sudhir Bisht on Aug 25, 2017 12:53 PM
Dear Mr Shah, Your feedback is welcome. I would like to be benefited by your more elaborate comments. Lack of knowledge in financial matters is an opinion that you hold and I have nothing to say about that. What's is wrong with the table. If any data is incorrect, I would rework the table. Thank you again Sir Regards Sudhir
Re: Re: Re: Wasn't Sikka A crook ?
by P S SHAH on Aug 25, 2017 01:29 PM
One professional not come to any presumptions only basis on one's own finding about other professional.How one come to premature assumption that he could not achieved his target four years in advance ? I have no extra love and affection about Mr Sikka or any one, but feel that you are unreasonably unfair to Mr Sikka. I will work out my detailed working on comparative performance or pre and post Sikka era and will forward to the board before the next AGM
1) His shady deals acquire a company for $200 million and not share legal report with shareholders.. This could be concealment of many things 2) bizarre compensation packages and fantastic severance pays of Infosys' CXO level executives. 3) abysmal poor performance Is Sikka really a CTO material, and not CEO material? Peter's principle is successfully applied in his case..... Narain Murthy accomplished his task as vigilant shareholder
Mr.Bisht, I completely agree with you. From whatever I have seen/ read over the last week, the majority opinion is heavily loaded against NRN. Why, I do not understand at all.
A few points from my side 1. NRN was the head of Infosys (during his comeback period) & must have been part of the group which recruited Sikka. Surely, he would have had no axe to grind against Sikka. 2. At no stage did NRN question Infosys's strategy, execution or results. His only grouse was about Corporate Governance - cost of Panaya acquisition & its investigation report not being made public, excessive severance pay (Boy, would I not love to join a Company which pays an employee an obscene amount for leaving rather than for joining !!), having a Politician's wife come on the Board etc. His points were very specific, whereas the Board was very wishy-washy & gave no point by point answers. Surely as a Promoter & a highly respected Doyen of the IT Industry, NRN deserved better. 3. If anyone has lost the most monetarily due to the steep fall in Infosys's share price, it is NRN. He would have known about this risk, yet he continued with his questions, which definitely means it was not about money. 4. Fundamentally, I guess that it boiled down to NRN's & the Promoters's frugal outlook (Compassinate Capitalism) vs Sikka's extravagance - taking chartered flights, heavy salaries at the top vs pittance/ retrenchments at the lower levels & maybe a real worry that hush money was paid
Re: Bang on
by Sudhir Bisht on Aug 24, 2017 09:57 PM
Thank you for elaborate response. I still maintain that Sikka left as he realised that getting to the 20 billion turnover target was a daydream, without M
Re: Re: Bang on
by Maverick on Aug 24, 2017 10:20 PM
Can It be that, all this bickering internal and external impacted his work. We all see that happening in professional world. Petty corporate politics ruin even the best of people.
Re: Re: Re: Bang on
by P S SHAH on Aug 25, 2017 12:00 PM
I have read many article of Mr Bhist on Rediff for this time a am not in agreement with his view on Mr Sikka which is without any proper basis and logic.
Re: Re: Re: Bang on
by Rahul Sharda on Aug 25, 2017 12:32 AM
I appreciate your thoughts having said that Not necessarily what worked for infy of 90's and 2000's would work in 2017. Every one has his own style and way of doing things. Lets not judge based on that. What NRN has done to create infy is undoubtly great service but then one needs to learn to let go. Sikka has been achiever in his own rights too. Thats why he was hired as CEO in first place. Anyways buzz that Nandan may come back is good news but for how long. They will still need to look for some one beyond promoters if not now few years later. What happens then.
Sooner or later some one with his own head needs to run the company. Not looking at promoters all the time.
Re: Re: Re: Re: Bang on
by P S SHAH on Aug 25, 2017 11:45 AM
The come back of Nandan Nilkeni will not serve any purpose as he will be only "Non Executive Chairman" and will not be responsible for the day to day affairs of the company. If he is really serious about the company and prospects of his own stake in the company he should become Executive Chairman or full time Director and take responsibility for the performance of the company
Re: Re: Bang on
by P S SHAH on Aug 25, 2017 11:57 AM
Mr Sudhir Bist, one can come to any conclusion about any person only based on the performance of growth not achieved based on average growth to be achieved per you on the basis of target growth. One has to consider various factors. Some time due to adverse market factors company may not do well but they may achieve the target even within one or two years in favourble conditions. I am representing a reputed corporate and know it better.
Well saw the post. It seems totally biased with single agenda to show Sikka in bad light. I wish to ask the writer of this article what would he have done differently. Easy to sit and analyse any body and punch holes and very difficult to do some thing in life to make a difference. Sikka has been an achiever in his own way. He got an opportunity to lead one of the best companies we all grew up admiring. Wish him luck in his future assignments.
Re: Easy to criticize, difficult to do it your self.
by Sudhir Bisht on Aug 24, 2017 07:10 PM
Dear Rahul, I wish Sikka all the very Best too. Since you asked me what Sikka could have done differently, I think he should have done as follows: 1- As CEO Sikka was not just responsible for Market development and customer acquisition. He had to be head of all functions including but not limited to HR, Finance, Corporate governance, new product development. He should have worked more closely with his CXO team. This means he should have been at Bengaluru and not in California. 2- In my assessment, he should have focused more on BPO business in the short run as the new businesses of AI and cloud was a bit ambitious for Infy in its current set up. And the way to go was new company acquisitions. Sikka did go for Panaya but he came under cloud for that deal. he was not able to manage information (internal as well as external). These are my initial views. Thank you Rahul for your valuable comments. I truly appreciate
Re: Re: Easy to criticize, difficult to do it your self.
by Rahul Sharda on Aug 24, 2017 08:45 PM
Well glad you replied.
Point no 1 ) First in todays connected world physical presence is becoming diminished. I have seen so many Global CEO's operating out of places. Sikka was atleast close to customer. Point no 2) BPO is a long gone story my dear friend. Tell me which company is growing through BPO. Now new revenue generators in disturptive world are fresh ideas and cutting through technologies not old rut of things which we indian software companies grew on. New world order is different. Its complex and pace of change is unimaginable.
I feel Sikka was doing all the right things. Having said that if there were issues they should have been sorted out internally rather than in public which is totally unacceptable. We say in professional parlance there has to be lakshman rekha. I feel Sikka didn't cross the line first and once its broken then its free for all and thats what is happening with infosys. We all who don't know full story and real reasons are commenting freely about a respected company we all grew up admiring.
Hope all this dies out soon and wisdom prevails and things come back to normalcy soon at infy.
Re: Re: Easy to criticize, difficult to do it your self.
by Maverick on Aug 24, 2017 10:23 PM
You have all the answers. You are THE right candidate for the post. :)
Re: Re: Re: Re: Easy to criticize, difficult to do it your self.
by Sudhir Bisht on Aug 25, 2017 07:25 AM
Thank you very much. A comment laced with satire can avhieve what a sword cannot!
Re: Re: Easy to criticize, difficult to do it your self.
by P S SHAH on Aug 25, 2017 12:05 PM
Mr Sudhir Bhist, to write any article and to run a reputed company is totally different. Without knowing anything about the company and its affairs and day to day functions of the company one can not suggest anything to the CEO and MD of the company what to do. May I know about your exposure and experience in corporate matter ?
Re: Easy to criticize, difficult to do it your self.
by P S SHAH on Aug 25, 2017 11:49 AM
It is very easy to write anything about political matters but to write anything about the performance of any reputed company and its CEO and MD, it require adequate knowledge of finance and proper analytical skills.
Vishal began siliconizing the environment little realizing he is destroying the flora and fauna of this island known as infy infuriating the natives.
He felt the drumbeat is getting louder and approaching him any time resulting his ouster a la Cyrus,
It is likely he opted to resign rather than being ousted. The ambitious numbers for 2020 had become blurred and rather defunct with the installation of donald in the oval making Indian IT companies vulnerable to poor numbers.
He would have most probably been shown the door like Cyrus and Fiona had he not resigned.
YES IT LOOKS TO BE TRUE THAT SIKKA WAS NOT A CEO MATERIALS.WITH SO MUCH OF POWER / AUTHORITY IN RUNNING THE BUSINESS .HE COULD NOT DELEVER. KNOWING FULLY AWARE TO THE IMPOSSIBLE TARGETS HE CHOSE TO QUIT.HIGH SALARIED PEOPLE & HIGH QUALIFICATION NOT NECESSARILY MEAN A GREAT PERFORMER.
large MNC companies grow through acquisitions. You are forgetting how cash rich infosys is. The target is definitely not achievable if you add inorganic growth. Given the current market environment, infosys has done reasonably well.