Here’s what happened at the Infosys’ AGM

Infosys CEO Vishal Sikka conceded that the company’s performance was below expectations in FY15 but said that it was on track for better performance this year, during the 34 th Annual General Meeting (AGM) of the company.

"I think we still have a long way to go. My sense is that by next year in FY17, we will get to industry-leading growth," Sikka told reporters.

Meanwhile, NR Narayana Murthy lauded Sikka for his stewardship of Infosys as its first nonfounder CEO, and ruled out another encore by returning to a company he founded with six others in 1981.

"I wish (Sikka) the best for the future. I'm extremely happy and I think he's a great leader. He has aspirational targets. We should all support him, we should all pray that he succeeds," said Murthy on the sidelines of the AGM.
Sikka, who took charge on August 1 last year reiterated that Infosys should return to industry-leading growth rates during the next financial year.

Former CEO and chairman Murthy, who for the first time in the history of the company attended the shareholder meeting as just a stakeholder in Infosys also praised the current leadership team of the company.

"There's absolutely no doubt everybody there on the podium is smart, dedicated - they're working hard. They want the best for Infosys and therefore we are all 100% with them," he said.

Economic Times reported that prior to Sikka's appointment, Murthy undertook a massive organisational overhaul at Infosys as part of his turnaround plan for the company. The overhaul led to the departure of more than a dozen toplevel executives. He added that he had no plans of returning to Infosys nor was there any need for him to.

"The reality is that today we have a very good set of people running the company -- they should run the company, we should all support them, we should cheer them from outside, so there's no need for anybody from outside to get back into Infosys," said Murthy.

Meanwhile, Sikka also brushed away concerns over the H1B visa issue and said that the company was fully compliant with US laws.
"We're not worried about that (H1B issue) - I'm a US citizen. We have an impregnable compliance to these regulations and we're absolutely committed. We carry that responsibility extremely seriously and I know other companies in the industry do so as well," said Sikka.

Newly-appointed non-executive chairman R Seshasayee, who succeeds KV Kamath in the role, referred to Murthy as the "Bhishma Pitamah" of Infosys and said that Infosys would continue to seek Murthy's counsel and guidance on important issues as and when required.

(Image: Indiatimes)