Narayana Murthy Writes Goodbye Letter To Shareholders

Infosys (INFY) started with mere loan of Rs. 10000 Narayana Murthy took from his wife Sudha Murthy over three decades ago. Today, the outgoing chairman of Infosys Technologies Limited, Murthy wrote an emotional goodbye letter to shareholders. Murthy, in his email said that leaving Infosys was similar to parents leaving their daughter after her marriage. Infosys appointed the banker K.V. Kamath as the new chairman of Infosys. Murthy will then become the Chairman Emeritus. The change of roles will take place on August 21, 2011. Murthy further said that he lost several nights of sleep after being accused of violating business ethics - something Infosys is famous for. Even Infosys' tag line reads "Powered By Intellect, Driven By Values".

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CA Mohandas Pai, who was on Infosys board for a long time and operated as the head of HR quit recently after Infosys named SD Shibulal as the CEO last month. Post-resignation, Mr. Pai staated that it was incorrect that Infosys gave importance to seniority over meritocracy when it comes to senior positions. Pai was clearly referring to Infosys' internal policy of giving the company founders a shot at the top job one after other. The policy was criticized internally as well as by the company critics. Murthy however had denied it, saying the board would give priority to seniority only when there were two equally deserving candidates for the job. Murthy also mentioned that ""Bidding goodbye to the brightest of my co-founder colleagues early in the journey was disheartening....deliberating all alone on the resignation offer of a co-founder is not something I would wish upon even my enemy". Infosys cofounder N.Ss Raghavan had quit Infosys back in 2000 and K. Dinesh quit last month along with Pai.

Murthy further commented that Infosys turned bureaucratic at times during last 30 years because of the inability of some of the Infosys leaders to take important decisions quickly. Infosys becoming less business friendly time to time made Murthy sad. He further said that this tapestry of happy and not so happy incidents is normal and keeps life exciting.

Note: If anyone has a complete letter, please share it with us on editor [at] crazyengineers [dot] com.

Via: <a href="https://economictimes.indiatimes.com/tech/software/nr-narayana-murthy-bids-emotional-adieu-says-lost-sleep-over-charges-of-ethical-wrongdoing/articleshow/8403966.cms" target="_blank" rel="noopener noreferrer">NR Narayana Murthy bids emotional adieu; says lost sleep over charges of ethical wrongdoing - The Economic Times</a>