Murthy affair hits iGate scrip
23 May 2013 11:15 AM GMT
Shares of Nasdaq-listed iGate Corp plunged over 9 per cent to $14.90 on Wednesday, after the company sacked its high profile chief executive Phaneesh Murthy, for not disclosing a relationship with a subordinate.
He has been replaced by interim CEO Gerhard Watzinger. Murthy denied charges of sexual harassment but admitted of being in relationship with a colleague for a' few months'.
'I do believe the charges (of sexual harassment) are incorrect and pursuant to the relationship I had with her over the past few months. I do not believe, I have violated any company policy... I had spoken to the Chairman (iGate) about it,' he said.
He has been replaced by interim CEO Gerhard Watzinger. Murthy denied charges of sexual harassment but admitted of being in relationship with a colleague for a' few months'.
'I do believe the charges (of sexual harassment) are incorrect and pursuant to the relationship I had with her over the past few months. I do not believe, I have violated any company policy... I had spoken to the Chairman (iGate) about it,' he said.
Next Story
