'Pravin Rao's commitment and contribution to the company has been immense, and his partnership over the past three years has been critical to the successes and growth of our company,' said Vishal Sikka, chief executive officer at Infosys.
With a total compensation of Rs 1,500 million, C P Gurnani of Tech Mahindra is the highest paid CEO of a tech firm.
The company's net profit stood at Rs 2,875 crore (Rs 28.7 billion) in the same period last year.
Sikka dismissed that the new technology and connectivity would create imbalances.
Revenue of the Bengaluru-based firm grew 1.7 per cent to Rs 17,078 crore in the June quarter as against Rs 16,782 crore in the year-ago period.
The matter pertains to the Rs 173.8 million severance offer given to former CFO Rajiv Bansal in October 2015 when he was allegedly forced to step down due to differences with then chief executive Vishal Sikka over the acquisition of Israeli technology firm Panaya for $200 million.
Grandchildren and books will take up most of NR Narayana Murthy's time after he retires for the second time from the company he co-founded with six friends over three decades ago.
Balakrishnan, Pai write to board, seek correction in 'dramatic valuation disconnect' between shares of Infosys and its peers.
Reaches out to Kris Gopalakrishnan to mentor the company's science and technology initiatives.
Says Murthy's initiatives over last one year showing results; to augment company's strategy with innovation
Sikka said second quarter will be better than the April-June period
Infosys is looking for acquisitions but for innovative reasons instead of revenue priorities.
Sikka has expanded the role of former SAP executive Ritika Suri.
The company expects its 2017-18 revenue to grow between 6.1 per cent and 8.1 per cent in dollar terms and 6.5-8.5 per cent in constant currency terms.
As four founder families sold part of their Infosys holdings on Monday, CEO Vishal Sikka said monetisation of shares for philanthropic and entrepreneurship purposes was in line with the company's values.
At his last media interaction after announcing Infosys' quarterly earnings, the outgoing CEO talks about the company's business, the challenges it faces, and efforts to overcome them.
Infosys chief Vishal Sikka also said that demonetisation has shown to the world that Indians are ready to adopt new technology disruptions.
The new CEO will have to move very quickly to first calm the three key stakeholders, employees, customers and the investors: Gartner
Infosys CEO Salil Parekh, has praised the company's founders for building an "incredible organisation", and exuded confidence that the firm which "has always been solid" will "continue with that stability." Parekh - who steered the firm to stability after a bitter spat between founders and then-management a few years back - believes that Infosys is "well positioned" to leverage tech-led growth opportunities over the next several years. Parekh took over at the helm in January 2018, after a standoff between board and founders, including NR Narayana Murthy, over issues such as governance, led to the exit of then-CEO Vishal Sikka.
Vishal Sikka, chief executive officer of Infosys has become the highest-paid professional CEO in India.
This is the first time, perhaps, Infosys has appointed as CEO a person who has never managed P&L or has any experience in managing lakhs of employees.
Asked if there was a timeline to see a turnaround at Infosys, Kamath said the country's second largest software services firm was a profitable company.
After four months of slide, the week since it announced a new CEO has seen the Infosys scrip gaining nearly 50 basis points in index weight.
Team-building, lifting employee morale, stanching the attrition rate are a few immediate tasks on his hands.
Government is set to release CPI for the month of May and Index of Industrial Production IIP for the month of April today.
The 34th annual general meeting (AGM) of IT major Infosys held Monday was an exceptional one.
said its consolidated net profit has gone up by 7 pc to Rs 3,708 crore while total income in the October-December quarter rose 8.3 pc to Rs 18,093 crore.
Apart from Infosys, players like Tata Consultancy Services and Mindtree have also pointed towards weakness in the financial services sector and project delays and cancellations that could impact the growth of the USD 110 billion IT services sector in the near term.
According to reports, an anonymous group that calls itself "ethical employees" have written to the Infosys Board as well as American regulator US Securities and Exchange Commission with the allegations. They have claimed that they have emails and voice recordings to substantiate the same.
The company attributed the cut in guidance to the macroeconomic uncertainties.
Pai sought to look at the issue of founders raising questions as shareholder activism.
In spite of that the founders never voted against any resolution, those who differed abstained.
In 2015, Infosys, under the leadership of then CEO Vishal Sikka, had bought Israeli automation technology firm Panaya for around $ 200 million and e-commerce service provider Skava for $1 20 million. The buyouts were mired in controversy owing to allegation of over-payment apart from not being an ideal fit.
'There will only be an institutional solution between the board and the founders to take Infosys forward.'
Chief Operating Officer UB Pravin Rao said the company will be back to historic performance levels in a couple of years.
nfosys chief financial officer Ranganath M said there was confusion in visa costs.
In 2015-16, Sikka as CEO took home Rs 48.73 crore as salary (including, bonus and incentives), which is the highest among peers.
Infosys said on Monday it would buy Panaya Inc, a New Jersey-based provider of automation technology, for an enterprise value of $200 million
Infosys CEO Vishal Sikka on Wednesday said the founders of India's second largest IT services firm Infosys still remain committed to the firm and the sold stock will be used for philanthropic purposes.
Infosys co-founders N R Narayana Murthy and Nandan Nilekani along with their family members on Monday sold shares worth Rs 6,484 crore in the country's second largest software services firm.
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