Snehal khanna Blog

Infosys gave a low key welcome to Parekh, unlike the aggressive marketing exercise it undertook to welcome Sikka LATEST NEWS :  Salil Parekh will earn an annual salary of Rs 162. 5 million ($ 2.55 million)  as the CEO of Infosys, less than what Infosys had offered his high-profile predecessor Vishal Sikka , who quit the firm after three years in turmoil. The compensation also reflects the reality at Infosys and its chairman Nandan Nilekani who would like the low-profile senior executive to execute a vision of focused delivery for customers rather than over-promise and under-delivery that would be in contrast with the company's culture. Parekh, the soft-spoken executive who was poached from global rival Capgemini, will get an annual fixed salary of Rs 65 million and a variable pay of Rs 97.5 million that would be compensated based on achieving metrics set by the company.  The second non-founder CEO at Infosys is also being offered a generous compens...

The Infosys board and Murthy have drawn battle lines, each holding ground on their stand LATEST NEWS :  Infosys founder N R Narayana Murthy has begun reaching out to investors in a bid to explain his stand on the public battle with the Infosys board and the management that led to the resignation of its first non-founder chief executive Vishal Sikka. He would be holding an investors’ call on Wednesday to explain why the values of the company he built has been diluted and how that is bad for Infosys in the long run. Murthy did not respond to an email seeking comments. The Bengaluru-based software major is the most liquid stock on the bourses, with institutional investors holding 57.72 per cent as on June 30, 2017. While Indian investors, who have 9.63 per cent in the company, saw market cap erosion, foreign institutional investors, who hold 37.53 per cent stake in the company, saw a significantly negative impact on the market cap ever since the public fallout l...

Narayana Murthy had publicly criticised Infy for poor corporate governance. LATEST NEWS    :    Infosys board is making every effort to placate its founder N R Narayana Murthy, who has criticised the company on its corporate disclosures, by offering a formal role in the organisation. It also would bring curtains to the distraction that chief executive Vishal Sikka has often complained is hurting the business. At 70, Murthy is eligible for a role on the board, including as executive chairman. In 2013, Infosys board had raised the age bar to 75 from the earlier 60 years to facilitate entry of Murthy as the IT major firm chairman for the second time. “If he were to wish that, we would absolutely consider it,“ Ravi Venkatesan, co-chairperson at Infosys said in an interview with ET NOW on Thursday. Since, Murthy raised the issue of failing corporate governance, Infosys has taken pains to bring policy changes to improve transparency, which includ...

Tensions between founders and company emerge again LATEST NEWS :   Infosys co-founder N R Narayana Murthy’s concerns over governance lapses at the company have resurfaced. Murthy has asked the company to make the recent Gibson, Dunn & Crutcher report public. In a recent communication to the Infosys board, Murthy questioned why executives such as Ritika Suri — who was a member of the team that acquired Israeli firm Panaya — quit Infosys soon after the global law firm gave a clean chit. Suri, a former colleague at SAP of Infosys Chief Executive Officer Vishal Sikka, was head of corporate development and ventures, when the deal was signed in April 2015 and she quit the firm in June this year. Since then, several executives have quit Infosys, including its Americas Head Sandeep Dadlani, Anirban Dey, chief business officer of Edge products at EdgeVerve, and Yusuf Bashir, global head of Infys’ $500-million innovation fund. The summary findings made publi...

This is not for the first time that IT industry has faced the layoff problem, says Narayana Murthy IT companies can protect the jobs of youngsters if senior executives take pay cuts, said Infosys co-founder NR Narayana Murthy. He added that the industry has dealt with the issue several times in the past. Murthy said he has no doubt that all industry leaders have good intentions to solve the problem of layoffs. "There are a lot of smart leaders in the industry, but I have no doubt at all that they are all well-intentioned people and they can find solutions," he told news channel ET Now. Murthy also said this is not for the first time that the industry has faced the layoff problem and hence there should not be any extreme anxiety as the industry had dealt the issue and found solutions then. "Let us remember we have gone through this several times in the past. We went through that in 2008, in 2001. So, this is nothing new. Therefore, there is no ...