Ravi Venkatesan Steps Down From Infosys Board With Immediate Effect

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New Delhi: The IT behemoth informed the stock exchanges in a statement on Friday evening that Infosys independent director Ravi Venkatesan has stepped down from the board with immediate effect.

"This is to inform that Ravi Venkatesan, Independent Director has resigned as a director of the company with immediate effect to pursue an exciting new opportunity. Accordingly, the board took note of the same, " Infosys said in the statement.

Infosys had appointed Venkatesan as the co-chairman of the board last year in April. He had been on the Infosys board since April 2011. Venkatesan along with R Seshasayee, the then chairman were seen as troubleshooters during the last few months of former CEO (Chief Executive Officer) and MD (Managing Director) Vishal Sikka's tumultuous stint before he dramatically resigned in August 2017 following months of disagreements with Infosys co-founder NR Narayana Murthy.

Venkatesan's tenure as co-chairman was brief and lasted till Nandan Nilekani became chairman in August 2017. "The board will miss his passion, strategic insights, and personal warmth, but he will always remain a friend," said Nilekani on Venkatesan's exit. In his farewell note to Venkatesan, Nilekani hinted that former board member's next stint will be in the social sector.

"Ravi (Venkatesan) has been a champion for driving social impact and it is desire to do more, that led to his request for stepping off the Board. I am delighted that he will be pursuing an exciting opportunity in this area," the Infosys chairman said.

Venkatesan's resignation comes a month after the anonymous whistleblower who had in 2017 raised charges of irregularities by the Infosys board under former chairman Seshasayee, sent a letter to market regulator SEBI (Securities and Exchange Board of India) demanding accountability from the board on its decision first to buy Panaya and Skava and then to sell them three years later.

“As a regulator I request you to ask the board of Infosys to fix accountability for this transaction and take action against people who had approved these transactions,” the whistleblower had said in the email.

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