It is very typical of Indian businessmen, especially Family Business heads to “LET GO”. Even in a Public LImited company where the Founders supposedly RETIRE and then actively campaign against the Chief of the Executive.
We have seen two live examples in the recent past with Ratan Tata coming back from retirement to remove Cyrus Mistry as Chairman and then going Legal.
In Infosys’s case it is the Activist Founder Narayan Murthy who is unable to LET GO and has been openly washing dirty linen in public which does not augur well for the Corporate.
Wonder when people will realise that they do not have Pockets in the Coffin and they have to learn to LET GO !
Governance and Minority shareholder interest is something dear to my heart as I have learnt the role of an Independent Director. The SEBI as regulator does its job well as does the SFIO in a case of irregularities swiftly and deftly. The undue activism I have read about in the newspapers and websites in Infosys case appears to be more ‘Personal’ and Ëgo battle”.
Now that it has reached its end, hopefully we shall see Less sackings, Less Bench Strength, Less Cash burn, Less wastage – More benefit to the shareholders and minority shareholder interests. Hope that the SHRINK waste to GROW Profit applies
I just wish that the Founders learn to LET GO – seriously !.
The CEO said he took 99 commercial and 17 private flights in 2016, amounting to 800-plus flying hours. He blamed his fading mirth on the constant travel.