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    I have no tolerance for divisiveness of any form: Salil Parekh, CEO, Infosys

    Synopsis

    As the board investigates the anonymous complaints, Infosys CEO Salil Parekh said he was committed to executing the Infosys strategy and had served with commitment and integrity.

    BENGALURU: Infosys chief executive Salil Parekh said on Wednesday that he has served with “commitment and integrity” to transform the company and focused on inclusiveness at the IT services leader, in his first public statement after a whistleblower group accused him and chief financial officer Nilanjan Roy of financial malfeasance.

    “As CEO, I have served with commitment and integrity to deliver a major business transformation in the large, complex organisation. Over the past two years, those who have worked with me know that I operate with inclusiveness and have no tolerance for divisiveness of any form,” Parekh said, while addressing analysts at the Infosys’ office in Bengaluru.

    An anonymous whistleblower group, calling themselves Ethical Employees of Infosys, had accused Parekh and Roy of financial improprieties in letters to the Infosys board and the US Securities and Exchange Commission. The group accused the senior executives of adopting aggressive accounting practices and advising their team not to disclose large deals to the company board. ET was the first to report the development last month.

    Parekh is the second non-founder chief executive at Infosys, who took over in January last year after predecessor Vishal Sikka quit following a public spat with Infosys founder NR Narayana Murthy. Parekh has set a three-year roadmap to transform Infosys.

    “Salil (Parekh’s) commentary was on expected lines on the business growth and execution. But, the good thing was (he was) assertive in making a point about integrity,” said a senior equity analyst who closely tracks Infosys.

    Last month, the firm said it was winning large deals across verticals and had maintained its top end guidance for the year ahead.

    Parekh said on Wednesday that he respected the independent investigation that has been undertaken by the board and has recused himself from the process.

    The Infosys CEO said he and company employees remained unperturbed by the fresh allegations and continued to focus on their work.

    “I would like to thank the over 2,30,000 employees of Infosys for keeping their attention on the work we do for our clients; that work has always been the hallmark of Infosys. I would like to say to our clients that Infosys and I remain fully committed to working with them,” said Parekh.

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    10 Comments on this Story

    Srinivasan Venkataraman281 days ago
    Before writing an article authors should do their home work. We dont require statistics. Let the Author give facts . Australia / New zealand subsidies their Agriculture product by 23 % . China subsidies all its export by 17 % . Why is this fact not revealed. That is IF SP is 100 - They get 23 from Govt and Hence sell the same at 77 in open Market . India does not subsidies , hence if our DAIRY product is priced at Rs 85/= it will look costly . This strategy is adopted by all western nations and China
    Jay 281 days ago
    Wow! This is not even funny anymore. After a spate of articles on how RCEP would spell disaster to the marginal farmers and industry, we now have this! RCEP is a low-hanging fruit because India would then be a dumping yard for cheap products from the ASEAN C nations and diary from Aus and NZ. Pacts with EU and US are difficult because India will have a lot to gain from them. Pacts for the sake of pacts is downright silly.
    Hiten282 days ago
    He is Trying To Rubbish The Public at Large IF the Company operations are So Good Than Why Would a Company Ethical Group Blow The Lid & Make The Regulators Be Aware of Malpractices The CEO Thinks People Are Fools So He Is Rubbishing Us With His Stupid Excuses
    The Economic Times