Diabytes
Infosys CEO News
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Infosys Founder Narayana Murthy: Infosys co-founder, Senapathy Gopalakrishnan, has a net worth of Rs 38,500 crores. He served as CEO and Managing Director from 2007 to 2011 and as Vice Chairman from 2011 to 2014.
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Parekh, who joined Infosys in January 2018, received Rs 6.07 crore in fixed salary and Rs 10.96 crore in bonus, incentives and variable pay in 2018-19.
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The compensation for Parekh is subject to approval of shareholders through postal ballot and electronic voting by February 20.
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Infosyshad been searching for a new CEO since August this year after Vishal Sikka quit.
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As the CEO, Parekh will have to achieve growth while being careful not to antagonize Infosys` founders
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He will continue to hold the position of interim-CEO and MD for a maximum of five years, or until a new CEO and MD is appointed, Infosys said in its postal ballot.
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The stock jumped 3.14 per cent to close at Rs 941.15 on the BSE. During the day, it went up 4.49 per cent to Rs 953.50.
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Terming the return of Nandan Nilekani as Infosys` Board Chairman an excellent idea, Sikka said the latter was an extraordinary leader and an iconic man.
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Sikka's resignation as CEO last week escalated the tensions between the founders and the management of India's second largest software company. He was then named Vice- Chairman.
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Stating that it was the Board`s "unanimous" decision in wanting him to return to the company, he said he was back with the company as "more than just a founder".
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Former Infoscions may well have a shot at clinching the top job as Infosys CEO, with the company looking at "alumni" along with internal and external candidates in its global search for the lead role.
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Kiran Mazumdar Shaw is an Independent Director at Infosys.
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A defiant Infosys Founder N R Narayana Murthy will interact with investors on Wednesday through a conference call to tell his version of the software major`s boardroom battles that led to the exit of its technocrat Vishal Sikka as CEO on last Friday.
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Sikka's resignation has plunged Infosys into crisis with the company facing several issues, including a suitable replacement as CEO.
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The stock slumped 5.37 per cent to close at Rs 873.50 on BSE. During the day, it slipped 5.75 per cent to Rs 870 -- its 52-week low.
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The stock remained the biggest loser among blue-chips on both the key indices for yet another session.
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As an action-packed day unfolded at Infosys with the abrupt exit of CEO Vishal Sikka, amused twitteratis exhibited their witty sides with hilarious digs and puns around an otherwise acrimonious corporate drama.
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The board of the embattled company - which saw its CEO Vishal Sikka step down on Friday amid founders alleging corporate governance lapses - is scheduled to meet tomorrow to consider the buyback proposal.
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Once a poster boy of Indian IT success story, Infosys has been battered by intense acrimony, with founders accusing the board of poor corporate governance on issues like executive pay and acquisitions.
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Vishal Sikka has resigned from Infosys amid heightened acrimony between the board and the high-profile founders led by NR Narayana Murthy.
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