IT major Infosys has denied governance lapses alleged by three founders, including NR Narayana Murthy, but former Infosys chief finance officer V Balakrishnan has said that chairman R Seshasayee must resign. "Communication between important shareholders and the board has broken down. The chairman should step down; have an interim chairman, the board should be reconstituted and all concerns should be addressed," Mr Balakrishnan told NDTV. The controversy is built around a hike in pay for the company's CEO Vishal Sikka's and a severance package given to two former top executives. Mr Seshasayee has backed Mr Sikka, saying the company is "fully aligned" with his "strategic direction."
