Infosys appoints union minister’s wife as director

Bengaluru (IANS) Global software major Infosys Ltd on Thursday appointed noted investment manager Punita Kumar Sinha, wife of union Minister of State for Finance Jayant Sinha, as an independent director on its board.

In a regulatory filing to the Bombay Stock Exchange (BSE), the IT bellwether said Punita Kumar Sinha was appointed as an independent director with effect from Thursday.

Her appointment comes in place of Carol M Browner, who resigned as a board member on November 2015.

In a brief profile in the filing, the company, however, did not mention that Punita’s husband is a minister in the the central government.

Sinha is the son of former finance and external affairs minister Yeshwant Sinha in the previous NDA government (1999-2004) and Punita Sinha is former senior managing director at The Blackstone Group.

The news about the appointment came on one line on page four of the seven-page press release on its third quarterly results under “Board Changes” and had no detail about her.

Punita Sinha is also a founder and managing partner of Pacific Paradigm Advisors, an independent investment advisory and management firm, focussed on Asia.

Her appointment and its announcement without details came under flak in the social media, as she is a wife of a union minister with an important portfolio (finance).

Congress MP Rajeev Shankarrao Satav tweeted: “Infosys Appoints Punita Sinha, Wife of Jayant Sinha, as Director. Clear case of #Nepotism?”

“Her Husband has a Day Job ‘Union Minister of State, Finance’ and She is privy to Govt’s Financial Policies,” said user Pankaj Tiwari.

Besides Punita, outgoing independent director Jeffrey S Lehman was re-appointed for a two-year term from April 14, 2016.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here