Infosys co-founder S D Shibulal has received little over four lakh shares of the company as a gift, taking the total number of shares owned by him to more than 21.6 lakh shares, according to a regulatory filing. Infosys, on Friday, informed the stock exchanges that "4,01,000 equity shares (representing 0.01 per cent) of Infosys Ltd by way of gift as off market transaction on November 12, 2020" were given to Shibulal. The filing did not mention who gifted these shares.
Infosys said the nominations committee will shortlist and evaluate an internal slate of candidates with the assistance of Development Dimensions International, a company specialising in corporate executive evaluations.
Infosys CEO and MD S D Shibulal took home a smaller bonus in the past financial year.
Lightning Logistics, Shreyas Shibulal's start-up, rents out electric scooters along with the riders for last mile delivery.
Shibulal talks about the company's new focus areas under the chairmanship of N R Narayana Murthy, and their rationale.
Infy CEO and MD talks about the factors behind the company's performance in the quarter.
Company set to see its three co-founders - Executive Chairman Murthy, Executive VC Gopalakrishnan and Chief Executive Officer and Managing Director Shibulal move out in the next few months
Even as Infosys posted healthy growth for October-December 2013 and raised its revenue forecast for FY14, S D Shibulal, the managing director and chief executive officer, says it's still work in progress.
Shibulal plans to commission biography of his wife
"The global macroeconomic environment is still uncertain. It is and should be a concern for the IT industry," said the Infosys CEO and Managing Director S D Shibulal said.
Infosys Head India Business Unit C N Raghupathi said for the manufacturing sector, the key areas to focus on include new product innovation.
S D Shibulal, former chief executive and managing director of Infosys, has joined the ranks of the company's other founders in nurturing start-ups.
Infosys' co-founders, S D Shibulal and S Gopalkrishnan, on Tuesday launched Axilor Ventures, a business incubator and platform for supporting innovation and entrepreneurship.
It, however, is yet to decide on the annual wage rise.
N R Narayana Murthy, who returned as Executive Chairman of Infosys on Saturday, said he will be more effective with his son Rohan as an Executive Assistant but made it clear the latter has no leadership role.
It has always been a high point for me at Infosys, says Shibulal.
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.
Company's ADR fell 7% on Nasdaq after CEO Shibulal's comments.
Rohan Murty, Infosys co-founder NR Narayana Murthy's son, is working as an executive assistant to his father, CEO and Managing Director SD Shibulal said on Friday, addressing concerns about his role.
Q4 turned out to be a much softer quarter than we expected, and some of the ramp-ups did not happen.
This is the first major change of guard at India's second largest information technology services company, in the wake of the retirement of co-founder and chairman, N R Narayana Murthy, last week.
The stranglehold of the founders over the Infosys management has strengthened after the recent changes.
Infosys, TCS, Wipro and HCL Technologies are actively pursuing acquisitions to make up for slower growth in their traditional business.
Infosys chief executive officer and managing director S D Shibulal will be in London to mark the first cross listing of an Indian company, a company statement said.
Infosys on Wednesday said it is keen to acquire Thomson Reuters' healthcare business. "We are dating...not yet engaged", Infosys CEO and Managing Director S D Shibulal said at a press conference in Bangalore, "We need to understand each other.
"People addition is on track for 45,000 (employee hiring) target for the financial year 2012. The company will focus on local hiring. We have hired 1,000 people in the US in the last four quarters," Infosys Chief Executive Officer and Managing Director S D Shibulal said.
Infosys Technologies appears to have set out on a journey of generational change which will unravel over the next few years.
Shares of IT major Infosys tanked 9 per cent on Thursday as the company expects sluggish growth in the January-March quarter due to muted spending by clients, especially in the retail sector.
Infosys announced 11 January, 2008 as the date for its Q3 results release
At a time when speculation was rife about its course after the organisational rejig last week, Infosys on Friday validated the changes, exuding strong faith in its leadership pipeline and gave a clear signal that the company was unperturbed by the slew of senior exits in the recent past.
They expressed disappointment over the firm's performance.
With the appointment of Vishal Sikka as CEO and Managing Director of the company, IT major Infosys has elevated 12 leaders to the position of Executive Vice President with additional responsibilities.
Infosys President B G Srinivas will join Hong Kong-based diversified group PCCW as Group Managing Director in July, after ending his 15-year old stint with India's second largest IT services firm.
The company had sacked former chief executive officer Phaneesh Murthy in May this year over an undisclosed relationship with a subordinate.
Infosys on Friday said it is in discussion with clients for a contingency plan to ensure business continuity in the event of the US immigration reforms bill becoming a law.
MUrgency is slated to launch services in Amritsar and Jalandhar in the last week of May and cover the entire state by June end.
Stating that he is looking forward to working with talented Infoscions, Vishal Sikka said, "I am honoured to lead Infosys, an iconic company built by pioneers in the technology industry. I look forward to working with and learning from talented Infoscions around the world."
LIC, the biggest institutional investor in the stock market, held 3.71 per cent stake in Infosys during the October-December quarter, which has fallen to 3.25 percent as of March 31, 2014.
Pavin Rao, a 28-year company veteran, to be second-in-command at Infosys.
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