Infosys Chairman Nandan Nilekani has reassured shareholders that the company is stable and is ready to get back into faster growth mode.
Addressing shareholders in the 37th Annual General Meeting (AGM), which also coincides with the 25th year of listing in the stock markets, Nilekani said that India's second largest software exporter has taken several steps to remedy stability concerns.
“When I stepped for the second time into Infosys in August last year, one of the concerns raised was about the company's stability and we have taken several steps to remedy this. We have a stable board and management and everyone is united,” he said. Now the focus will be in relentless execution, Nilekani added.
Nilekani's assurance comes in the backdrop of a bitter battle between some of the founders and some former board members and Vishal Sikka, which distracted the company and resulted in 5.8 per cent growth, lesser than Nasscom growth projection for the industry.
Nilekani further pointed out that under the leadership of new CEO Salil Parekh, Infosys introspected internally and discussed with several of its clients the way forward. “We now have evolved from leveraging classic software development methods to approaching software creation in a more agile, digital ways,” he said.
The Chairman concluded his speech by saying that it is the resilience of the team that has seen Infosys through some rather testing times in the year that went by and helped deliver 'strong' financial performance. Infosys closed the year with $10.8 billion in revenues.