About Infosys Infosys is provider of technology, engineering and outsourcing services. Infosys was co-founded in 1981 by N. R.Narayana Murthy, Nandan Nilekani and other management partners Its headquartered in Bangalore. It has offices in 30 countries Today, Infosys is a global leader in the "next generation" of IT and consulting with revenues of
About Phaneesh murthy•Phaneesh murthy 38 years old man, the headof salesand marketing and communication and productservices division of Infosys•Phaneesh Murthy, the highest-paid employee ofInfosys, he used to take Rs.1.91 crore every
About Reka Maximovitch Reka Maximovitch, an American citizen of Bulgarian descent. Reka Maximovitch was working as Phaneesh Murthys executive assistant. While she was facing sexual harassment from Murthy from october 1999 she was not reported,may be due to fear of social redicule or fear of losing her job. She was wrongfully terminated from job in
Problems in the case Reka filed a complaint in Oakland,USA on 17 Dec’,alleging sexual harassment, unlawful termination against Phaneesh murthy. Infosys became entangled in the scandal, it is the first negative news about infosys since its inception. Murthy abruptly resigned from Infosys.Initially,Murthy refused to participate in the settlement initiated by infosys. Infosys ahead with the settlement without any contribution from murthy. Later on, He voluntarily signed the settlement and
Why the things gone wrong Lack of corporate governance Infosys maintained a studied silence on the episode on the ground that the matter was subjudice. Media reports blamed Infosys for having kept the issue under wraps for a long time. The Company’s share price declined by 6.6percent soon after phaneesh left
How the settlement went Giving details of the settlement, Infosys chairman and chief mentor N R Narayana Murthy told media persons that the company would be paying $3million to the accuser. Of this, Infosys would contribute $1.5 million while insurers would cough up the remaining $1.5million under the companys directors and officers liability insurance cover.