Corporate Governance at Infosys
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Case Code: CGOV001 Case Length: 12 Pages Period: 1996 - 2001 Pub Date: 2001 Teaching Note: Available |
Price: Rs.300 Organization: Infosys Technologies Ltd. Industry: Information Technology Countries: India Themes: Coporate Governance |
Abstract Case Intro 1 Excerpts
"The fundamental objective of corporate governance is the enhancement of long-term shareholder value while, at the same time, protecting the interests of other stakeholders."
- Kumar Mangalam Committee report on corporate governance, 1999.
"We've always striven hard for respectability, transparency and to create an ethical organisation. There are certain expectations that we haven't fulfilled. But we're also a very young organisation and in areas like track record of management, we may be low because we're yet to show longevity."
- Narayana NR Murthy, Chairman and CEO, Infosys Technologies Limited (Infosys), 2001.
The High Priest of Corporate Governance
By the late 1990s, Infosys Technologies Limited (Infosys) had clearly emerged one of the best managed companies in India. Its corporate governance practices seemed to be better than those of many other companies in India. Because of its good governance practices, Infosys was the recipient of many awards. In 2001, Infosys was rated India's most respected company by Business World. Infosys was also ranked second in corporate governance among 495 emerging companies in a survey conducted by Credit Lyonnais Securities Asia (CLSA) Emerging Markets. It was voted India's best managed company five years in a row (1996-2000) by the Asiamoney poll.
In 2000, Infosys had been awarded the "National Award for Excellence in Corporate Governance" by the Government of India. In 1999, Infosys had been selected as one of Asia's leading companies in the Far Eastern Economic Review's REVIEW 2000 Survey and voted India's most admired company by The Economic Times. Infosys had also provided all the information required by the Cadbury committee Infosys had benchmarked its corporate governance practices against those of the best managed companies in the world (Refer Exhibit I for broad structures and processes for good governance). It was one of the first companies in India to publish a compliance report on corporate governance, based on the recommendations of a committee constituted by the Confederation of Indian Industries (CII). Infosys maintained a high degree of transparency while disclosing information to stakeholders....
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