Infosys shares were up for the second consecutive session on Thursday, this time after a report claimed that members of the firm’s board had offered to resign to facilitate Nandan Nilekani’s return as a non-executive chairperson. At 2.58 pm, the software giant’s shares were trading at 20.75 points higher at 913.55 on the Bombay Stock Exchange Sensex.
Members of the firm’s board of directors, with the exception of Punita Sinha and Roopa Kudwa, offered to resign to enable former Unique Identification Authority of India chief Nilekani to return with a “clean slate”, reported ET Now. The firm, however, told Bloomberg Quint that it does not make “any comments on speculation and rumours”.
Nilekani will return to Infosys for a agreed period of time, with some predetermined goals, the report said. These goals will include identifying the next CEO, and regaining investor and customer confidence in the company. Infosys Co-chairperson Ravi Venkatesan and independent directors Kiran Mazumdar Shaw and DN Prahlad had met Nilekani at his home on Monday.
But Nilekani’s return is still not official, ET Now reported quoting an unidentified official. “The math has to work out for Nilekani to return. It is almost certain that he will come back as a non-executive chairman, but it is not a done deal yet,” the official told ET Now.