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.

Comments

Ghaja 10 Feb 2017, 10:32
+2 -0
Some Bangalore PA is assisting if what I've heard is true
Alias 14 Feb 2017, 00:53
+1 -0
Arjun Lal?
Jolly LLB 2 10 Feb 2017, 10:56
+5 -10
Congratulations to Cyril Shroff who is undisputed name for governance related advise.
SCAM 10 Feb 2017, 16:38
+6 -1
Hey Kian, you had run a story which said that NRN is part of the CAM advisory Board. So isn't there a conflict of interest when CAM has been appointed by the company to look into NRN's allegations? Some corporate governance this!!
kianganz 10 Feb 2017, 17:03
+2 -0
Right you are - I had forgotten about that:
http://www.legallyindia.com/law-firms/find-elephant-in-new-cyril-amarchand-logo-as-new-board-bags-infosys-murthy-hdfc-parekh-uday-kothak-nus-v-umakanth-20150809-6409

Interesting dynamic, I am not quite sure what the correct answer to that is. Anyone?
SCAM 11 Feb 2017, 06:01
+7 -0
As a cap mkts lawyer I can tell you that it reeks of nepotism. Both Parties being self anointed doyens of corporate governance. They will of course state that they have robust systems in place to ensure independence and maintain highest levels of integrity ... client and public interest is paramount etc etc. PR spinning will happen. But we all know the truth don't we?!
Chai Paani Vendor 13 Feb 2017, 15:37
+4 -0
You guys dont understand anything and act very childish! Dont you know that all these advices will be provided by the Legal Robot and there will be a chinese wall between Cyril and the Robot!!
Scooter- 13 Feb 2017, 09:59
+1 -0
That advisory board has been dissolved.
Bring it On! 10 Feb 2017, 11:46
+2 -1
CAM really stepping up its PR game. Kudos
Oh Khala 10 Feb 2017, 14:00
+7 -5
Let CAM do the good work while the haters can park cars at Okhla.
Duh 10 Feb 2017, 14:51
+5 -0
Infy should also take advise from CAM on how to stop attrition
Guest 10 Feb 2017, 22:41
+25 -1
Who better than Cyril Shroff to solve sensitive disputes over money and property?
Alias 11 Feb 2017, 03:46
+15 -0
The irony of the mandate cannot be lost
Wolf 12 Feb 2017, 11:41
+1 -0
The pic. lol.
Alias 2 13 Feb 2017, 06:18
+0 -0
Exactly my thoughts given the last year and a half!!
walnut 18 Aug 2017, 10:02
+0 -0
@KIAN - try and get a word from Cyril on the latest development. Looks like another promoter versus management fight is on the cards!