Narayan Murthy | Pixr8 News

13Feb By AnkitaNo Comments

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Infosys Founder Son-in-Law Named New British Finance Minister

Indian-origin politician Rishi Sunak was appointed as the UK's new finance minister on Thursday by Prime Minister Boris Johnson in a Cabinet reshuffle. Sunak, the son-in-law of Infosys Co-founder Narayana Murthy, will join Home secretary Priti Patel on the top government bench as the Chancellor of the Exchequer. Earlier, Pakistani-origin Sajid Javid resigned as Chancellor in a shock move in one of the biggest shakeups since Johnson won a thumping majority in the December 2019 general election. He is replaced by Sunak, who was until now Javid's junior as the Chief Secretary to the Treasury and seen as a rising star within the Cabinet. The 39-year-old is set to move into No. 11 Downing Street, next door to the Prime Minister's Office as he takes charge of the second most importa...

How 1974 Incident Turn Narayan Murthy into Compassionate Capitalist

6Jan By AnkitaNo Comments

Entrepreneurs Talk

How 1974 Incident Turn Narayan Murthy into Compassionate Capitalist

A bitter experience on a train in 1974 in Nis, a border town between what is now Serbia and Bulgaria, turned N R Narayana Murthy into a "compassionate capitalist", leading him to create Infosys, the country's IT bellwether. Recalling the incident, Murthy said he was engaged in a conversation with a girl, who could only understand French, but it landed him in trouble. "We were talking about life in Bulgaria. I think the boy, who was accompanying the girl, got upset with us for some reason. So, he went and brought the police," Murthy said on Sunday while addressing the audience at a tech fest organized by IIT, Bombay, through a video link. The Bulgarian guards took Murthy's passport, luggage and dragged him on the platform. He was kept in an 8X8 room, with primitive toilet faciliti...

Infosys Founders Will Sell 13000 Crore Worth Stake

28Aug By AdityaNo Comments

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Infosys Founders Will Sell 13000 Crore Worth Stake

Infosys founders are likely to sell some of their stake in the company's under Rs 13,000-crore share buyback programme, the company said today. The promoters keenness to participate in the buyback comes within days of a silent coup by founders led by N R Narayana Murthy to seize control of Indias second-biggest software services firm. The founders and their families between them hold some 12.75 per cent (29.28 crore shares) of Infosys. Murthy declined to comment on if he would participate in the buyback. The buyback price of Rs 1,150 is higher than the current stock trading price of Rs 941.15 and is considered "reasonably good" by the firms former CFO V Balakrishnan. Founded in 1981 by seven engineers, all former employees of Patni Computer Systems with an initial capital of $2...

Infosys Denied Any Partiality in COO Salary Increment, Released its Statement

4Apr By AdityaNo Comments

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Infosys Denied Any Partiality in COO Salary Increment, Released its Statement

Bangalore – April 3, 2017: Infosys has the responsibility to attract and retain top quality talent to be effective in the transformation journey that the company has embarked upon. In this context, the company undertook a comprehensive survey of best practices and benchmarked senior management compensation with key Indian and global companies. The compensation structure revised thereafter reduces the proportion of cash component in the total compensation and has introduced higher stock incentives (to be vested over a 4-year period); it was rolled out for the entire senior leadership including Mr. Pravin Rao, Chief Operating Officer. The details were disclosed in the stock exchange filings on October 14, 2016. Mr. Pravin Rao's compensation revision reflects the philosophy of aligning the...

Start Up India to boost entrepreneurship, jobs: Narayana Murthy

14Jan By Press Trust of IndiaNo Comments

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Start Up India to boost entrepreneurship, jobs: Narayana Murthy

NEW DELHI: Appreciating Prime Minister Narendra Modi's Start Up India initiative, Infosys co-founder Narayana Murthy today said it will encourage entrepreneurship and generate jobs. "At the end of the day... it is about the power of entrepreneurship, how it can create lots of jobs and how there is a need to encourage our youngsters to create even more jobs," he said while commenting on the Start Up India initiative. The Prime Minister during his Independence Day speech had announced that government would launch Start Up India programme to encourage innovation and young entrepreneurs. Modi is slated to unveil the action plan under the initiative on January 16. Recalling that Infosys itself was a start-up company, Murthy said it has generated 1.70 lakh "good jobs" for youngsters in the ...