Infosys to declare Q3 results on Jan 12
India’s second largest software services firm Infosys has said it will announce its third-quarter results on January 12, 2018.
It will be the first result announcement after former Capgemini executive Salil Parekh takes over as the CEO on January 2, 2018.
In a regulatory filing, Infosys said its Board will meet on January 11 and 12, 2018 to consider the audited consolidated financial results of the company.
“The financial results would be finally approved by the Board of Directors on January 12, 2018,” it added.
Parekh is set to assume charge at the Bengaluru-based company that is recovering from a year-long acrimony between the previous management and the founders, led by N R Narayana Murthy.
The spat, which was often public, led to the then CEO Vishal Sikka quitting in August this year.
Over the next few days, the then Chairman R Seshasayee and two others also relinquished their positions.
It was then that Nandan Nilekani — one of the Infosys co-founders and Aadhaar architect — was brought in as Non- executive Chairman to restore order at the embattled company.
He was also tasked with finding Sikka’s successor as the shareholder sentiment was hit by the developments at the firm.
Earlier this month, the company announced that Parekh will come in as the new CEO, and U B Pravin Rao will step down as the interim CEO and Managing Director effective January 2, 2018 to continue as Chief Operating Officer and whole-time Director.
Murthy, along with some former Infosys executives, had alleged serious corporate governance lapses and questioned the high severance packages paid to ex-CFO and others.
Another major contention was the Panaya acquisition by Infosys.
The founders, citing whistleblower reports, had raised concerns about the buyout.
Interestingly, the new Board, under Nilekani, has given a clean chit to the USD 200 million Panaya deal, saying there was no merit in the allegations of wrongdoing related to the deal.