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Infy calls Cyril to quell internal discontent with corporate governance expertise

Infy turns to CAM for troubleshooting its problems
Infy turns to CAM for troubleshooting its problems

Infosys, beleaguered by speculation over boardroom disagreements, internal governance surrounding CEO compensation, severance pay, appointments of independent directors, visas and a difficult business environment, has appointed Cyril Amarchand Mangaldas to help it settle ongoing disputes and disagreements between the company’s bosses and various shareholders, as reported by The Hindu Business Line and others.

According to an Infosys statement and internal communication to staffers exhorting them not to worry about rumours and instead to focus on their work:

The Board has recently appointed Cyril Amarchand Mangaldas, corporate governance experts, to receive inputs from promoters and other stakeholders, evaluate them and make recommendations to the board. This will be an ongoing process.

Chairman of Infosys’ board, R Seshasayee added in a statement:

“Infosys is in the process of a formidable transformation journey and the Board is fully aligned with the strategic direction of CEO Vishal Sikka. We are keen to further accelerate the progress and achieve even more shareholder value increase, on the foundation of sound governance.”

We have reached out to Cyril Amarchand for more information about the mandate and which partners at the firm are involved.

While we have not received a response, according to sources within the firm with knowledge of the mandate, managing partner Cyril Shroff is advising on the matter personally.

Update: We have now confirmed authoritatively from sources that Cyril Shroff is leading on the matter.

In the case of the other big business house that’s been in headlines for controversy recently, Cyril Shroff has also been advising the Tata Group on corporate governance and strategy relating to its dispute with ousted chairman Cyrus Mistry, as we had reported in December 2016.

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