Nilekani will work as a non-executive, non-independent director of the company with immediate effect.
Vishal Sikka resigned as CEO last week amid what he said were "baseless/malicious and increasingly personal attacks" - sparking a sell-off and wiping billions of dollars off the firm's market value.
Nandan Nilekani, who was one of the original 7 co-founders of the company, left Infosys in 2009 while he was vice-president to head UIDAI (Unique Identification Authority of India). "Most importantly, Nilekani is an insider who can stem the fall of the share price as well as the company's image".
In a sudden move, Infosys' first non-founder CEO, Vishal Sikka, resigned last week citing slander by founders.
Only 23.57% of promoter votes are reported to have been cast in favour of reappointing Sikka as managing director and CEO in April 2016.
Nilekani, having worked a lot of time with co-founder N R Narayana Murthy, will also put the latter at ease with regards to the corporate governance issues that he has been raising. The decision was taken in the Board of Directors meeting by Infosys on Thursday.
Many domestic institutional investors including ICICI Prudential Asset Management, HDFC Asset Management, Birla Sun Life AMC among others, had written to Infosys board to bring former chief executive Nandan Nilekani back to take care of the firm in turbulent times after Vishal Sikka's resignation as MD and CEO.
The letter also stated that the investors feel Nilekani enjoys trust and support of the majority of the stakeholders in Infosys and his elevation to hold the top responsibility will not be opposed by anyone concerned. His chairman has been accepted, the company said in a statement.
Also stepping down from the Board, effective immediately, are Dr. Vishal Sikka, Prof.
Meanwhile, speaking to news agency PTI, Infosys ex-CFO V. Balakrishnan too favoured bringing back Mr Nilekani arguing that he is well connected with customers and had performed well during his tenure with the company.
Nilekani, one of the cofounders of the company, ran the business from 2002 to 2007 and remains highly respected in the technology world. "I think there is very little chance there will be an external candidate", a source inside the company had informed The Indian Express.
Soon after taking over, Nilekani sent out a clear message to anxious investors and shareholders stating that the Board will actively consider a broad-based shareholder consultation process as a critical part of its overall engagement initiatives with all the stakeholders of Infosys.
And Jeff Flake , the senator the president says no one knows, is nearly as "Never-Trump" as anyone in Congress right now. According to The Tennessean , Carr said Corker has been "too critical of the president and publicly outspoken".
During his speech Tuesday, Maduro said he would ask Interpol to issue an global arrest warrant for the couple. "Because of that reason, (Maduro's administration) is violating the constitution and law to protect itself".
This included a decline of 9.4 percent for Kmart stores, and a decline of 13.2 percent at Sears stores, the company said. With a double digit comparable sales decline, the second quarter proved hard for Sears Holdings and its store network.
The council ultimately voted unanimously in favor of expediting the removal and relocation of both the Robert E. Charlottesville City Council candidate and community activist Nikuyah Walker said, per CBS News .
Reducing technical trade barriers and the improving logistical movement of products, he said, would benefit all three countries. He said he hopes Canada can get a new deal done, but the government has to prepare for the possibility of NAFTA being torn up.
Ahead of the meeting with Abbas, dozens of Palestinians protested in Ramallah against alleged US bias in favor of Israel. But since taking office, Trump decided not to move the embassy and has urged Israel to restrain settlement construction.
The U.S. delegation had been scheduled to meet Egyptian Foreign Minister Sameh Shoukry on Wednesday, but the meeting was dropped. Egypt's foreign ministry expressed its regret over the decision, saying it would have a negative impact on common interests.
So yeah, this megatrade revived the offseason for now, but if we look into the near future, does Boston really come out on top? This is not the first time that a cover athlete for a sports video game was traded before the season started.
In addition, Ramaswamy announced that Google was looking to offer both "free and fast delivery" with the Express Service. Soon with the help of Google , Walmart's customers will have the ability to order thousands of products via their voice.
Holt Capital Limited Liability Corporation Dba Holt Capital Prtn Lp holds 0.34% or 30,725 shares in its portfolio. While looking the figure depicted by the Price to Earning we can suggest that the shares of Cisco Systems, Inc.
Typhoon death toll in China rises to 12
The water supply was also limited, authorities said, and 50 flights cancelled from its worldwide airport. The former Portuguese colony's casinos, however, had backup power, two casino executives told Reuters .
India's Infosys approves buyback of shares
Murthy's worries are shared by most if not the greater part of the other six founders, as indicated by individuals near them. He also said that he was disappointed by the lack of support from the people he had expected would back him.
Three brawls erupt during Yankees-Tigers game
Saupold surrendered four hits, two runs and two walks in his outing, while VerHagen gave up three hits, two runs and a home run. Both Romine and Cabrera were ejected from the game, but there promises to be multiple suspensions stemming from the brawl.
Yemen: Over 40 killed in Saudi-led airstrikes
The attacks led Saleh to back the Houthis, despite him having fought viciously against the Houthi movement when he was in office. The United States also regularly conducts drone strikes on Yemen which Washington says target Al-Qaeda.
Go Inside Jerry Seinfeld's Upcoming Netflix Special
When Jerry Seinfeld isn't driving in cars with comedians and getting coffee , he's performing stand-up comedy around the country. The new special is due on Netflix on September 19 , but you can check out some snippets below.
Samsung Galaxy Note 8 vs Galaxy S8 Plus: the weigh
Those who pre-order will be given a convertible wireless charger to charge the phone in either a portrait or landscape position. Before delving into my hands-on first impressions , here are the key facts you need to know about Samsung's latest phablet.