Monday, May 20, 2013

One more male achiever falls for the "relationship" axe !! How many women are sacked for filrting or relationships ??

IGate Terminates CEO’s Contract Citing Relationship


IGate Corp. (IGTE) terminated the contract of Chief Executive Officer Phaneesh Murthy after the software company said he didn’t report a relationship with an employee.

IGate’s board engaged outside legal counsel to investigate and found Murthy’s failure to disclose the relationship violated policy and his contract, the Fremont, California-based company said in a statement yesterday. The probe, which is continuing, hasn’t found any violation of the company’s harassment policy, it said. Gerhard Watzinger, 52, has been appointed president and CEO on an interim basis, the software maker said.

Murthy didn’t immediately answer two calls to his mobile phone in India or reply to a voicemail left on his U.S. mobile phone. He is scheduled to speak with reporters on a conference call today. Prabhanjan Deshpande, a Bangalore-based spokesman for IGate, didn’t immediately respond to two calls made to his mobile phone.

“The board deliberated extensively on this matter,” Sunil Wadhwani, co-chairman of IGate, said in the statement. “As a result of this violation of IGate policy, we asked Murthy to step down.”

In 2004, Murthy and his former employer Infosys Ltd. (INFO) settled a sexual harassment suit in the U.S. filed by a former employee. The $800,000 settlement was split equally between insurers and Murthy, Infosys, based in Bangalore, said at the time.

To contact the reporter on this story: Kartikay Mehrotra in New Delhi at kmehrotra2@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net

source
http://www.bloomberg.com/news/2013-05-21/igate-terminates-ceo-s-contract-citing-relationship.html