Mohandas Pai Backs Narayana Murthy; Says COO Payment is Huge But Not Performance
Backing Infosys co-founder N R Narayana Murthy's view on pay hike to COO U B Pravin Rao being "not proper," company's ex-director T V Mohandas Pai today said the salary in this case is "spectacular" but performance is not.
Alleging that Infosys' board was "misguided", Pai said the ""fundamental problem" was the pay hike given earlier to CEO Vishal Sikka "without any justification", because of which other executives were also expecting higher pay.
He said salary levels in India cannot be compared with that in the US.
"I totally agree with Murthy that it was not proper. We should have Indian norm for compensation; we can't follow American norm, we (Infosys) are not an American company," Pai, who was also formerly Chief Finance Officer of Infosys, told in a telephonic interview.
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