Corporate Governance in Infosys

Mr.G

Well-Known Member
#1
The son of the chairman Narayan Murthy is appointed his son as an executive assistant. Now the is seeking permission from the Government to appoint him as a VP! What type of **** is this?! He is blatantly giving away high ranking position to his son! Why cant he join in from the lower ranks like everyone else?! Why does he get special treatment? I swear to god If I had Infosys stock I would have sold them this very instant. This is the type of thing that brings down great companies by making them into family kitty parties where shareholder value is nothing and family members rule the senior positions.
 

Mr.G

Well-Known Member
#3
permission from the government ?? did not understand
It is the law when a relative of board member or senior executive is directly placed in a high ranking position without due procedure then they must take permission from ministry of corporate affairs.
 

mastermind007

Well-Known Member
#4
The son of the chairman Narayan Murthy is appointed his son as an executive assistant. Now the is seeking permission from the Government to appoint him as a VP! What type of **** is this?! He is blatantly giving away high ranking position to his son! Why cant he join in from the lower ranks like everyone else?! Why does he get special treatment? I swear to god If I had Infosys stock I would have sold them this very instant. This is the type of thing that brings down great companies by making them into family kitty parties where shareholder value is nothing and family members rule the senior positions.
At least in this case, Murthy junior holds PhD in IT from some US university, so he has been kind of groomed into the position. He also is on token salary of 1 Rs.

Dynasty rules are (fortunately or unfortunately) norm in India. Infy thing got prominent space in news while most others just escape the radar and Ministry approval is yet-another rubber stamp.

If you held INFY stocks, you would have also received communication and voting paper on this either at AGM or special Investor meeting...
 

Mr.G

Well-Known Member
#5
If you held INFY stocks, you would have also received communication and voting paper on this either at AGM or special Investor meeting...
Mujhe toh pata hi nahi tha! :O Still man Phd or No Phd, What about hundreds of other deserving 40 year olds who have grind their lives away for INFY and they never even get the chance to see such a position unless they kiss their bosses ass all day long. And now this chap comes out of no where and loots away position from more deserving people. This is bullshit.
 

mastermind007

Well-Known Member
#6
The son of the chairman Narayan Murthy is appointed his son as an executive assistant. Now the is seeking permission from the Government to appoint him as a VP! What type of **** is this?! He is blatantly giving away high ranking position to his son! Why cant he join in from the lower ranks like everyone else?! Why does he get special treatment? I swear to god If I had Infosys stock I would have sold them this very instant. This is the type of thing that brings down great companies by making them into family kitty parties where shareholder value is nothing and family members rule the senior positions.
At least in this case, Murthy junior holds PhD in IT from some US university, so he has been kind of groomed into the position. He also is on token salary of 1 Rs.

Dynasty rules are (fortunately or unfortunately) norm in India. Infy thing got prominent space in news while most others just escape the radar and Ministry approval is yet-another rubber stamp.

If you held INFY stocks, you would have also received communication and voting paper on this either at AGM or special Investor meeting...
 

whisky

Well-Known Member
#7
Corporate n Politics world work like this, nothing new.
 

bunny

Well-Known Member
#8
May be the business situation is so bad that none of the "respectable" veteran's want to fill that position, perhaps because they may have negative outlook or may be the grass is greener elsewhere ;-)
 

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