iGate CEO Sacks over sexual misconduct

TehnoparkToday.com (May 2013) >> iGate sacks CEO Phaneesh Murthy over sexual misconduct, and the company decided to terminate the employment of CEO Phaneesh Murthy due to the circumstances sorrounding Murthy’s relationship with one of the employee, resulted a sexual harassment claim. an investigation conducted about this reached the finding that Murthy’s failure to report this relationship violated iGate’s policy, as well as Murthy’s employment contract.Previously, former Infosys employee Rekha Maximovitch had filed a sexual harassment case against Murthy

iGate appointed Gerhard Watzinger as CEO on an interim basis. Gerhard Watzinger, age 52, is a successful 29-year IT industry veteran, who previously served as an executive at iGate from 1998 to 2003 in a number of roles, including CEO of the iGate solutions business (formerly Mascot Systems). During his tenure, Watzinger drove iGate solutions’ transition from a US-centric operation to an international organization across four continents, closed some of the largest deals in the company’s history and increased the company’s market value by over 150%.

Murthy will get a post termination benefit of $6,000 per month, indexed for inflation, until he and his spouse reach the age of 65 or become eligible for health coverage under a government-sponsored program.