Sikka has influenced the company to break away from the old mould in more ways than one.
Analysts say no pressure on new CEO for immediate results.
Nasdaq listed Infosys Technologies will announce its third quarter results on January 12.
The Federal Retirement Thrift Investment Board's (FRTIB), one of the US government's main retirement funds, decision to change the benchmark index for gaining international exposure will channel $3.6 billion (Rs 30,000 crore) inflows into domestic equities. India has a weightage of 5.3 per cent, seventh-most in the new MSCI ACWI IMI ex USA ex China ex Hong Index, which FRTIB now plans to use. India isn't part of the current developed markets-dominated MSCI EAFE index that the pension fund uses.
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
Infosys' first non-founder CEO had been granted 232,329 RSUs at Rs 5 a unit.
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.
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.'
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.
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.
Even as Srini Pallia, a Wipro veteran, is set to take charge as the chief executive officer (CEO) of the company, analysts expect the stock's underperformance to continue in the near-future. This, they believe, will be on the back of likely loss of market share, and difficult business environment. "We expect Wipro to underperform peers on growth once again in FY25 as channel checks and media reports suggest Wipro is losing share with select clients across multiple verticals.
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.
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.
"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.
A centralised, founder-led model that relies on organic growth is no longer workable.
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
Shares of Infosys today closed at Rs 1,065.35, down 1.95 per cent from the previous close on the BSE.
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.
N R Narayana Murthy, co-founder of Infosys, blamed the venture capitalist community for inculcating a culture among entrepreneurs to chase growth at all costs. He said the VC model of investment looked like a ponzi scheme. "I would hold venture capitalists responsible who propounded the theory that only the top-line is important and not the bottom-line. "I think that is completely wrong. In many ways it looks like a ponzi scheme.
Pai sought to look at the issue of founders raising questions as shareholder activism.
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.
IT services major Wipro is reconsidering a proposal of buy back of equity shares, said the company in a regulatory filing. A final decision on this will be taken during the board meeting to be held on April 26-27. The outcome of the board meeting will be communicated to the stock exchanges soon after conclusion on April 27.
India's third largest IT company HCL Technologies on Friday reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore. However, the company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world. The company described the performance as "decent" in view of the global macroeconomic conditions.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
"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.
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.
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.
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.
Information technology leader Infosys Technologies Ltd on Friday said it will consider a bonus issue of its shares on April 14, taking the value of its scrip to a 52-week high of Rs 3,400 on the Bombay Stock Exchange.
Group of ministers to review progress every fortnight.
The transformation will be driven by the number of initiatives the company has identified.
Country's second largest IT firm Infosys has crossed the $2 billion revenue mark in Europe for the first time, driven by strong demand for consulting and system integration (CSI) services.
