India's second biggest software services exporter Infosys firmly backed its chief executive on Thursday, downplaying corporate governance concerns and an alleged rift between the firm's founders and its board.
Three founders, N.R. Narayana Murthy, Kris Gopalakrishnan and Nandan Nilekani, wrote to the board in January expressing concerns about Chief Executive Vishal Sikka's pay rise and the severance package offered to two former officials, Indian news channel CNBC-TV18 reported on Tuesday.
Differences between Infosys founders and the board come at a time when India's Tata conglomerate is mired in allegations of corporate governance lapses by its former chairman, who has waged a legal battle against his ouster.
In its first detailed statement about the various concerns raised by its founders, Infosys said on Thursday it was on a path to transformation under Sikka's leadership.
"The board is fully aligned with the strategic direction of Dr. Vishal Sikka and is very appreciative of the initiatives taken by him in pursuance of this transformation," R. Seshasayee, Infosys board chairman, said in a statement.