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MD And CEO Of Infosys Vishal Sikka Resigned From His Post

18Aug By RishabhNo Comments

BUSINESS, News

MD And CEO Of Infosys Vishal Sikka Resigned From His Post

Managing Director and CEO of Infosys, Vishal Sikka has resigned from his post this Friday morning and the Board has accepted his resignation with immediate effect. This move of Vishal was under the growing acrimony between the board and its founders led by NR Narayana Murthy. UB Pravin Rao, the Chief Operating Officer will be the interim MD and CEO. Infosys shares plunged as much as 12.8 per cent today after the announcement. Vishal Sikka had taken over the reins of Infosys back in June of 2014, and has been working ever since. Sikka would now continue as Executive Vice-chairman. An Infosys statement said in his new role Sikka would continue to focus on strategic initiatives, key customer relationships and technology development. He will report to the company’s board and receive a...

Infosys Launches Infosys Nia- The Next Generation Integrated Artificial Intelligence Platform

27Apr By PriyankaNo Comments

News

Infosys Launches Infosys Nia- The Next Generation Integrated Artificial Intelligence Platform

Infosys, a global leader in consulting, technology, outsourcing and next-generation services, today announced the launch of Infosys Nia, the next-generation Artificial Intelligence Platform building on the success of the Company's first-generation AI platform, Infosys Mana, and its Robotic Process Automation (RPA) solution, AssistEdge. Together, both these products have amassed 50+ clients and 150+ engagements across all industry sectors, within a year of operations. Infosys Nia converges the big data/analytics, machine learning, knowledge management, infrastructure management services etc. As a unified, flexible, and modular platform, Infosys Nia enables a wide set of industry and function-specific solutions and allows customers to build custom experiences to suit their business needs....

Infosys CEO Vishal Sikka takes home Rs 43 cr in FY17

15Apr By AdityaNo Comments

BUSINESS

Infosys CEO Vishal Sikka takes home Rs 43 cr in FY17

Infosys CEO Vishal Sikka, whose pay package was one of the contentions raised by the founders, has drawn USD 6.68 million (about Rs 43 crore) or 61 per cent of the promised compensation for the 2016-17 fiscal. Sikka was eligible for a USD 11 million pay including basic salary, variable pay, restricted stock units (RSUs) and performance stock options for the year. Incidentally, this is also lower than what Sikka drew in the previous financial year when he took home Rs 48.73 crore. According to Infosys' financial statements that outline compensation to key executives, Sikka received only USD 3.68 million of the USD 8 million variable component that he was promised. One of the highest paid executives in the Indian IT industry, Sikka took home USD 0.82 million in variable pay, USD ...

Mohandas Pai Backs Narayana Murthy; Says COO Payment is Huge But Not Performance

3Apr By AdityaNo Comments

Entrepreneurs Talk

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. T...

Media Talk on Infy Corporate Governance Issues Distracting: Vishal Sikka

13Feb By reutersNo Comments

Entrepreneurs Talk

Media Talk on Infy Corporate Governance Issues Distracting: Vishal Sikka

Infosys Chief Executive Vishal Sikka said talk in media on corporate governance issues at the software services firm was "distracting" and that he had good relations with the firm's founders, including N.R. Narayana Murthy. India's second biggest IT services company, based in the tech hub of Bengaluru, has recently been in an escalating public spat with its founders and former executives, who have accused its board of lapses in corporate governance. "All this drama that has been going on in the media, it's very distracting - it takes away attention - but underneath that there is a very strong fabric that this company is based on and it is a real privilege for me to be its leader," Sikka said in response to a question at the Kotak Institutional Equities conference in Mumbai on Monday....

Infosys Co-founders Gopalakrishnan, Shibulal Sell Their Shares Worth Rs 862 Crore

11Mar By NitishNo Comments

BUSINESS

Infosys Co-founders Gopalakrishnan, Shibulal Sell Their Shares Worth Rs 862 Crore

Two of the billionaire co-founders of software major Infosys, S Gopalakrishnan and S D Shibulal, and some of the latter's family members sold 7.5 million equity shares of the company for Rs 862 crore on exchanges. The sale was executed by Citigroup Global Markets India Private Limited as the sole broker for the sale of shares, Gopalkrishnan and Shibulal said. The sale of shares was executed at an average price of Rs 1,149.45 across all sellers, they said in a joint statement here. The founders have served Infosys in various capacities, since its inception in 1981 until October 2014 and made it a professionally run company with a global presence. TThe sale has been done to partially monetize their stake, having nurtured the company for more than three decades, for personal reaso...