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Infosys’ R Seshasayee, Vishal Sikka say ‘no battle between board and promoters’. Here are 10 highlights from their speechhttps://www.businessinsider.in/warroom/infosys-r-seshasayee-vishal-sikka-say-no-battle-between-board-and-promoters-here-are-10-highlights-from-their-speech/slidelist/57129990.cms2017-02-13T19:30:45+05:30

Infosys’ R Seshasayee, Vishal Sikka say ‘no battle between board and promoters’. Here are 10 highlights from their speech

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Feb 13, 2017, 19:30 IST

1.

Board will take 'right decisions at right time' on appointment of directors. Rajiv Bansal was relieved on mutually agreed upon terms and conditions.

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2.

Have made enough disclosures on severance pay for David Kennedy & Rajiv Bansal. We have already settled issues related to Bansal's severance pay.

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3.

Received a whistle-blower complaint over Rajiv Bansal's severance package. Conducted a detailed investigation into whistle-blower complaint. No intention to silence whistle-blower over Bansal's severance package. Suspicion that Bansal's severance pay was 'hush' money deeply disturbing.

4.

'Business judgement could be wrong, perceptions could be different'. ‘Subjectivity element' should be taken away in severance packages.

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5.

'Judgement' on Bansal's severance pay could have been different. Validity in issues raised over Rajiv Bansal's severance pay. Postal ballot on Vishal Sikka's compensation in line with accepted corporate practices.

6.

Vishal Sikka's compensation package came with 'very ambitious' business targets. Sikka's compensation was finalised in line with best global standards. Fixed component of Sikka's package was trimmed to $4 mn from $5.8 mn. Sikka's compensation has been explained

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7.

Don't see Punita Sinha's appointment as a corporate governance issue. Proud to have Punita Sinha on the board of Infosys. Three women directors bring diversity on Infosys board.

8.

Will look at issues raised by all stakeholders dispassionately. It's our obligation to listen to all the voices and calibrate our action.

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9.

Founders have nothing but best interests in mind. It's natural to have a great deal of passion while dealing with Infosys. Don't think that there is a battle between the board and promoters.

10.

10. — DN Prahlad was taken on board after a lot of deliberations at highest level.

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