Lecture8-8_17765_Promoter to shareholder - Narayan Murhty

Lecture8-8_17765_Promoter to shareholder - Narayan Murhty -...

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Promoter to shareholder, a long journey for NR Narayana Murthy Oct 11, 2014, 05.26AM IST BANGALORE: NR Narayana Murthy declined to take up the ceremonial title of chairman emeritus at the company he founded citing Infosys' high corporate governance standards and (the need) to avoid any perceived conflicts. When Infosys announced appointment of Vishal Sikka as CEO in June, it said Murthy would be designated chairman emeritus— a title designated to him in 2011, after he stepped down from Infosys' board. With all seven founders retiring, Infosys will seek the approval of Sebi to reclassify them as public shareholders instead of promoter- shareholders. "The founders have neither association with the company nor exercise any control over the affairs of the company," Infosys said. The founders and their family members, together, own 15.94% stake in Infosys. If the reclassification is allowed,
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  • Fall '15
  • N. R. Narayana Murthy, Narayana Murthy, NR Narayana Murthy

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