Asian Tech Icon Flirts With Crisis After Whistle-Blowers Attack CEO
- Stock goes into free-fall as nervous investors play it safe
- Infosys is dealing with its second crisis in two years
This article is for subscribers only.
The dust had barely settled at Infosys Ltd. when Asia’s No. 2 software services firm once more found itself grappling with a potential leadership crisis.
For the second time in about as many years, the Indian icon synonymous with the country’s technological ascendancy is being forced to answer accusations of impropriety. In the most recent of a stream of grievances aired anonymously over past years, whistle-blowers accused Chief Executive Officer Salil Parekh of instigating employees to inflate profits, mis-represent the lucrativeness of deals, even of abusing travel privileges. In a memo reproduced in local newspapers, Parekh’s accusers offered emails and recordings to back up their claims.