The exit of Ashok Vemuri, board member and head of the Americas and manufacturing at Infosys, seems to have shaken the company's much-prided succession plan.
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
Sikka has influenced the company to break away from the old mould in more ways than one.
Infosys Science Foundation announced 2011 prize winners across five categories.
Analysts say no pressure on new CEO for immediate results.
"We are going to add 35,000 more people next year, which includes 13,000 people for the BPO operations," Infosys Member of the Board and Chief Financial Officer V Balakrishnan said.
Infosys' first non-founder CEO had been granted 232,329 RSUs at Rs 5 a unit.
Chandrashekar Kakal was operational head of the India business unit.
Infosys as working on becoming "independent of the visa issue" as much as possible and hire more locals
Nasdaq listed Infosys Technologies will announce its third quarter results on January 12.
The Union ministry of corporate affairs (MCA) has informed Infosys that the appointment of Rohan Murty, son of co-founder and executive chairman N R Narayana Murthy, does not require its approval.
Infosys, Wipro may follow suit as investors eye a piece of the large cash kitty as growth slows.
IT major Wipro on Thursday reported a marginal year-on-year decline of 0.4 per cent in net profit to Rs 3,074.5 crore for the fourth quarter ended March 2023 and announced a share buyback of up to Rs 12,000 crore. The Wipro board approved the buyback of 26.96 crore equity shares at a price of Rs 445 apiece. "Board...of Wipro...has approved a proposal to buyback up to 26,96,62,921 equity shares, being 4.91 per cent of the total paid-up equity shares of the company, for an aggregate amount not exceeding Rs 120,00,00,00,000 at a price of Rs 445...per equity share," the company said a regulatory filing.
Pai said more and more people -- whether they are employees, or investors or others -- are coming to the conclusion that this Board has to go and a new one has to come.
"Power to purchase its own equity shares or other securities by way of a buy-back arrangement has been included and provisions relating to nomination facility for shares by a shareholder have been inserted," the Infosys postal ballot notice, uploaded on the company's website, said.
Software services firm Infosys Technologies has imposed a fine on its chief executive officer S 'Kris' Gopalakrishnan and an independent director Jeffrey Sean Lehman for violating company rules.
Software major Infosys Technologies Ltd on Thursday said it would contest the ruling by the Chennai bench of the Intellectual Property Appellate Board, which has held that it cannot hold a monopoly on the trademark 'Infosys.'
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.
Shares of Infosys today closed at Rs 1,065.35, down 1.95 per cent from the previous close on the BSE.
Already facing an exodus of top management, Infosys is also struggling to retain talent at mid and junior levels, with 1,823 people leaving the firm in the October-December quarter.
A centralised, founder-led model that relies on organic growth is no longer workable.
Pai sought to look at the issue of founders raising questions as shareholder activism.
Infosys Technologies Ltd, India's No. 2 software services exporter, said on Friday its board will consider on Sunday a plan to ‘sponsor’ an issue of American Depositary Receipts against existing equity shares.\n\n
The board expansion comes against the backdrop of an ongoing tussle between the founders and the management over contentious issues such as CEO salary hike, severance package to former employees and corporate governance standards.
India's second-largest information technology services provider, Infosys Technologies, has applied for a mere 405 visas till date for financial year 2009-10 - its lowest application count in recent years.
"The Board in its meeting... has considered, approved and recommended a bonus issue of one equity share for every equity share held and a stock dividend of one American Depositary Share (ADS) for every ADS held, as on a record date to be determined," the company said in the regulatory filing.
Leveraging next generation technologies like artificial intelligence, software services major Infosys is confident of returning to industry-leading growth and regaining its position as the bellwether of the over $100 billion Indian IT industry.
Sources said the promotions, most of those on the delivery side of the business, would be handed out before October.
Infosys Technologies, India's second-largest IT services firm, appears set on having an insider as its chairman when N R Narayana Murthy retires in August next year.
An appraisal of performance of the board and practice of values and their synergy with the organisational strategy are all crucial for an organisation to evolve into an institution, say Ramachandran Kavil & Sougata Ray.
Between 2000, when Steve Ballmer became the chief executive officer of Microsoft, and now, when he has announced his retirement, the company's earnings have more than doubled and its revenues have increased over three-fold.
A day after she praised Rohan Murthy's performance at Infosys' board meeting, the firm's newly-appointed independent director and Biocon head Kiran Mazumdar Shaw on Wednesday apologised for the remarks.
A survey of CEOs shows corporate India is unsure about the party's ideology, with some feeling its left-of-the-centre politics can be detrimental in the long run.
Group of ministers to review progress every fortnight.
Vempati previously worked with Infosys and now heads an online media company.
Also looks at setting up development and training centres in the US to tide over visa-related issues
There is lot of mutual respect among the founders of Infosys. We have similar value systems. We have a long-term view of the business. We want to create a respected institution, says S Gopalakrishnan, President, Infosys.
The transformation will be driven by the number of initiatives the company has identified.
The CEO's compensation included a fixed salary component of Rs 6.07 crore, variable pay of Rs 10.96 crore and perquisites worth Rs 7.64 crore.
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