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A day after <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> reported 0.4% drop in dollar revenue, founder and executive chairman NR Narayana Murthy sent a note to the company's 1,60,405 employees outlining his desire to take Infosys to "industry leading growth". In a letter sent earlier today, Murthy said the Bangalore-based company has made considerable progress in cutting non-productive costs and revamping its training and assessment methods. 
 
Here's a copy of Murthy's letter to Infosys employees, in its entirety: 
 
Dear Infoscions, 
 
We announced our financial performance for FY'14 on April 15, 2014. We have doubled our growth from the previous year to 11.5% and improved operating margin by 2% between Q1 and 4 of FY'14. I thank all the 160,405 of you for your contribution and continued endeavour. 
 
This performance has given us the confidence to reinvest in our employees and I am so glad we rolled out compensation increments and promotions across the company by March 31, 2014. 
 
As a result of your support, we have made visible progress in increasing our market focus, eliminating non-productive costs, measuring and improving individual productivity, making the supply chain more agile and renewing our training and assessment methods. 
 
From the time I returned to Infosys in June 2013, I have met and got to know many of your extraordinary Infoscions in sales, software delivery and business enabler functions better. I believe we have a great team of people who are full of smart ideas and passion. 
 
My best wishes to every one of you. Lets work together toward achieving industry leading growth and profitability as we head into FY'15. 
 
Warm Regards, 
 
NR Narayana Murthy 
 
Executive Chairman of the Board

Infosys Chairman NR Narayana Murthy's Letter To Employees

<keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword>, India’s second largest IT company, admitted it had underestimated the effect of bringing in new and upcoming technologies. This could be one of the reasons that led to the shrinking of market share and decline in profits. 
 Infosys chairman <keyword id="51793" type="ORGANIZATION" weightage="100" keywordseo="NR-Narayana-Murthy">NR Narayana Murthy</keyword> had earlier said that the Bangalore-based company was lagging behind due to a lost focus on its “bread and butter traditional IT services.” 
 
“We underestimated the effects of the adoption of these new technologies and the change in the business model,” he said in a note to investors in the company’s annual report for 2013-14. 
 
“These newer services created smaller projects since many of the engagements were pilots. They also changed the revenue profile since clients preferred a subscription model to buy Cloud services. Our traditional business, IT services, slowed down, perhaps due to a lack of focus,” the co-founder said. 
 
More than three years ago, Infosys had introduced its 3.0 strategy, which aimed at expanding the focus and was looking to “move higher in the value chain.” Chief executive SD Shibulal had earlier said that the strategy would be “relevant to clients in all facets of their enterprises.” 
 
Many experts have, however, called the strategy’s timing inappropriate. Several observers have also questioned the weakness in execution of the 3.0 strategy. According to Partha Iyengar, India head of the IT research firm Gartner, “When Infosys says they want to be a product company, based on a thin stream of IP (intellectual property) scattered around the company, it is a difficult choice. To be a product-led company in the true sense, you need to have an absolute industry-leading product. Also, you cannot move to a product mindset company when you are such a mature player. 
 
“The CEO transition is an important move that the board has to act on in the coming year,” said Iyengar. “With Murthy as executive chairman, the risk in the transition is reduced,” he added

Infosys Admits Making ‘Strategy Errors’

KV Kamath, President of the new $100-billion BRICS Bank has given up his position as non-executive chairman at <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword>. Ashok Leyland Vice-Chairman <keyword id="484178" type="PERSON" weightage="80" keywordseo="R-Seshasayee">R Seshasayee</keyword> is set to take his place. 
 
Kamath replaced founder NR Narayana Murthy as the company's chairman in August 2011. He has played a crucial role in the succession planning in the company since he took over. 
 "The Board of Directors accepted <keyword id="2885458" type="UNKNOWN" weightage="80" keywordseo="K-V-Kamath">K.V. Kamath</keyword>'s resignation from his position as Chairman of the Board and as an Independent Director of the Company with immediate effect, consequent to his nomination as the President of the <keyword id="2421583" type="UNKNOWN" weightage="60" keywordseo="BRICS-New-Development-Bank">BRICS New Development Bank</keyword>," Infosys has reported in an filing to the exchanges. 
 
Seshasayee’s appointment would be effective immediately. 
 
(Image credit: Indiatimes)

Chairman KV Kamath quits Infosys. R Seshasayee to take over

Work-life balance is the buzzword these days and ample studies have shown how GenZ prefers a job which is flexible in terms of timings. In January this year, a study conducted by Randstad revealed that workers prioritise work-life balance over salary when evaluating potential job opportunities. According to the study, 57 percent of employees would reject a job offer if it negatively impacted their work-life balance. However, even though employees want greater work-life balance, there have been billionaires who disagree with the concept and promote hustle culture instead. From advocating for longer work hours to dismissing the idea of balance altogether, these tech leaders have taken stances that have often stirred the hornet's nest. <h2><keyword id="20068610" type="General" weightage="100" keywordseo="NR-Narayana-Murthy" source="keywords">NR Narayana Murthy</keyword>: Advocating 70-Hour work weeks</h2><keyword id="19906778" type="General" weightage="20" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="261" meta.entityid="Infosys">Infosys</keyword> founder NR <keyword id="19920910" type="General" weightage="20" keywordseo="narayana-murthy" source="keywords">Narayana Murthy</keyword> made headlines in October 2023 when he suggested that young people in India should be prepared to work 70 hours a week. Speaking on 3one4 Capital's podcast "The Record," Murthy argued that such an intense work ethic is necessary for India to improve its productivity and compete on the global stage. His remarks sparked a wide-ranging debate online, with some agreeing that increased effort is required to drive progress, while others criticised him for promoting an unsustainable work culture. <h2><keyword id="21042158" type="General" weightage="20" keywordseo="Alexis-Ohanian" source="keywords">Alexis Ohanian</keyword>: Dismissing work-life balance as a farce</h2>Reddit co-founder Alexis Ohanian also shared his views on work-life balance, which he dismisses as an unrealistic ideal. In an August 2023 Twitter thread, Ohanian said that work-life balance is a "farce" and that trying to achieve it is misguided. Instead, he emphasised the importance of knowing when to prioritise work and when to focus on personal life, suggesting that balance is more about shifting priorities rather than achieving a perfect equilibrium. <h2><keyword id="20054707" type="General" weightage="20" keywordseo="Jeff-Bezos" source="keywords">Jeff Bezos</keyword>: Rejecting the trade-off</h2>Amazon founder Jeff Bezos has long been a critic of the term "work-life balance." Speaking at an event in 2018, Bezos explained that he finds the concept debilitating because it implies a trade-off between work and life. He said that he prefers to view it as a "circle" where both aspects are interconnected. In earlier interviews, Bezos had mentioned that his happiness at work positively influences his personal life, and vice versa, suggesting that the two are more intertwined than balanced. <h2> <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>: Sleeping in offices</h2>Elon Musk, known for his demanding work ethic, has also been vocal about his approach to work-life balance—or the lack thereof. During the 29th Annual Baron Investment Conference in 2022, Musk revealed that he used to live in his factories and would sleep on the floor to show his commitment to his work. He believed that demonstrating his dedication in such a visible way would inspire his employees to work harder. Musk has also been critical of what he perceives as a declining work ethic in America, contrasting it with the intense dedication he observes among workers in China. <h2><keyword id="19915280" type="General" weightage="20" keywordseo="Jack-Ma" source="keywords">Jack Ma</keyword>: Endorsing China's "996" work culture</h2>Alibaba co-founder Jack Ma had expressed support for China's controversial "996" work schedule, which involves working from 9 a.m. to 9 p.m., six days a week. In 2019, Ma referred to the "996" culture as a "huge blessing" for young workers, arguing that the opportunity to work such hours is something to be grateful for, especially if one is passionate about their job. He downplayed concerns about overwork, suggesting that those who love their work won't find such hours burdensome.

70-hour work week to sleeping in offices: Golden words on hustle culture from NR Narayana Murthy, Elon Musk, and other billionaires

<keyword id="637412" type="PERSON" weightage="100" keywordseo="Infosys-founder">Infosys founder</keyword> <keyword id="51793" type="ORGANIZATION" weightage="100" keywordseo="NR-Narayana-Murthy">NR Narayana Murthy</keyword> might just have voiced his support to US Republican presidential candidate <keyword id="6354484" type="PERSON" weightage="100" keywordseo="Donald-Trump">Donald Trump</keyword>'s statement that he had given against outsourcing. 
 
As per a report, Murthy has told delegates at ISB Hyderabad that the Indian software industry has been working like 'immigration agents' for its employees, adding that it’s their responsibility to create local jobs for the youth of the country. 
 
"My belief was that a corporation that has global aspiration has to be fair to its global employees. All Indian companies guarantee visas, they guarantee green cards. The whole exercise has become as if they are immigration agents. I am sorry to say that. Indian companies behave as if they are agents for their employees to cross the Atlantic," Murthy was quoted in the report. 
 
He has given the statement after he was conferred the ISB Honorary Distinguished Fellowship, becoming the first recipient of this fellowship, which has been instituted by the ISB. 
 
The presidential candidate Donald Trump has been blaming India and China for outsourcing people to the US who snatch jobs from Americans. 
 
"They are taking our jobs. China is taking our jobs. Japan is taking our jobs. India is taking our jobs. It is not going to happen anymore, folks," Trump had said. 
 
<a href="http://1v1d1e1lmiki1lgcvx32p49h8fe.wpengine.netdna-cdn.com/wp-content/uploads/2014/09/newdaily_300914_trump.jpg">Image source</a>

This Indian tech honcho thinks that Donald Trump is right about Indians snatching jobs from Americans

Rift between the founders and the management board in <a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys </a>has been widening since more than one year now. The two sides are at loggerheads over the large severance paid to former <a href="http://www.businessinsider.in/searchresult.cms?query=rajiv+bansal&amp;sortorder=effectivedate">CEO Rajiv Bansal</a>, disclosed in 2016, and<a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate"> CEO Vishal Sikka</a> ($11million). 
 
The founders are upset and as per several media reports, some promoters were also upset with the appointment of Punita Kumar-Sinha, an investment banker and wife of Union minister Jayant Sinha, as an independent director. 
 However, the main reason behind the dispute is governance issue and “violation of core <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> values”. 
 
ET reported some of the founders have held the board responsible for what they perceive to be its inability to enforce governance norms. In July 2016, one of Infosys' prominent promoters reached out to a top legal professional in Mumbai. 
 The agenda: to hunt for a co-chairman for Infosys. This, despite the fact that <keyword id="484178" type="PERSON" weightage="20" keywordseo="R-Seshasayee">R Seshasayee</keyword> had been serving as Infosys non-executive chairman for just a year, since his appointment in June 2015. 
 
"The idea was to look for someone who understood core values of Infosys,” an executive told ET. 
 
A few names were thrown up as candidates, including a former Infosys finance hotshot and a retired founder. But the idea fizzled out as Seshasayee stepped down on July 28 as non-executive vice-chairman of Ashok Leyland - a post he had held since 2011- to focus on Infosys. 
 
Industry experts told ET the situation is not yet past the point of no return. "The end goal is the promoters, the board and the management should be aligned. I don't think the situation is irredeemable. If the founders air their problems, this could still be resolved. This isn't like the Tata case,” Shriram Subramanian, MD of shareholder advisory firm InGovern, told ET. 
 
Meanwhile, efforts are going on resolve the dispute. ET quoted two people saying among those involved is a prominent investor in the company - Baburaj Pillai. 
 
Reports of disputes over "internal governance issues, between some of the company's founders and a management keen on charting a new path have spurred efforts to broker peace by the Singapore-based fund manager as well as other influential people, said the sources cited above. 
 
Pillai, the founder of investment firm Arohi Capital, met with co-founder <a href="http://www.businessinsider.in/searchresult.cms?query=narayana+murthy&amp;sortorder=effectivedate">NR Narayana Murthy </a>and chief executive officer <keyword id="6369763" type="PERSON" weightage="20" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> late last year, according to people aware of the talks. 
 
"Pillai met with both of them to try and create common ground. He does not want Sikka to be forced to leave and he also does not want Murthy to feel as though his voice is not important,” one of the people aware of the discussions told ET. 
 
"With regard to concerns on governance being discussed in the media, we would like to reiterate that all decisions have been made bona fide, in the overall interest of the company, and that full disclosures have already been made thereon,” Infosys told ET in a statement.

You Searched For "nr narayana murthy" and got 6 results

Infosys Chairman NR Narayana Murthy's Letter To Employees

Times Of India

Infosys Admits Making ‘Strategy Errors’

BI India Bureau

Chairman KV Kamath quits Infosys. R Seshasayee to take over

BI India Bureau

70-hour work week to sleeping in offices: Golden words on hustle culture from NR Narayana Murthy, Elon Musk, and other billionaires

Divyanshi Sharma

This Indian tech honcho thinks that Donald Trump is right about Indians snatching jobs from Americans

BI India Bureau

Trouble is brewing between Infosys founders and board. Here’s everything you should know

BI India Bureau

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