Company appoints Parvatheesam K as compliance officer.
'Digital courts will alleviate congestion in traditional courts.'
Seshasayee has been an independent director on the company's board since January 2011.
Nandan Nilekani said one board member had received two anonymous complaints on September 30, 2019 - one dated September 20, 2019, titled 'Disturbing unethical practices' and an undated note with the title, 'Whistleblower Complaint'.
Infosys president and board member B G Srinivas has resigned, the company said on Wednesday, the latest in a series of senior management exits at India's second-largest software services exporter.
Parekh in a video address to employees expressed delight on leading the iconic company
Rao, in his letter, appealed to employees to stay the course, focusing on execution and expanding the services that the company had built over the past few years.
Indian IT major Wipro on Saturday announced the resignation of its CEO Thierry Delaporte and named Srinivas Pallia as the new chief executive officer effective immediately. Wipro's Board noted the resignation of Delaporte with effect from April 6, 2024, the company said in a BSE filing, and added he will be relieved from the employment of the company with effect from the close of business hours on May 31, 2024.
Many say N R Narayana Murthy returned to Infosys only because it was floundering. Ironically, that itself can be interpreted as the great man's biggest failure.
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.
Other losers were Tata Motors, Bharti Airtel, HCL Tech and Bajaj Finance, shedding up to 3.51 per cent. The broader NSE Nifty too tumbled 73.50 points, or 0.63 per cent, to settle at 11,588.35.
'These are the two core skill sets that are required for any job, in any profession.'
The share buyback -- which will be the first in the company's 36-year history -- has been a long-standing demand by some of the founders and high-profile former executives, who have been pushing Infosys to return surplus capital to its shareholders.
Nilekani is an organised person and his strength is simplification of complex ideas, said Murthy.
David, is set to join Hewlett Packard Enterprise as a senior VP for Enterprise Services Delivery.
Shares of IT giant Infosys erased early gains and ended with a loss of nearly one per cent on the NSE today on profit-booking after the company named former SAP executive board member Vishal Sikka as its new CEO.
Infy to cast wide net in CEO search, may go back to 'alumni'
With the attrition rate continuing well above 20 per cent, one of the highest in the segment, Infosys is on a drive to reimagine the way it engages with employees starting from the time of recruitment itself. The company is using digital technologies in order to simplify recruitment, provide faster career track to employees, and incentivise people with top skills. The company is looking at doubling the number of recruits from tier-I engineering colleges such as IITs and NITs to enrich its talent base. These candidates who are offered twice the salary as compared to regular campus recruits, join as 'power programmers', a term that has been internally coined by the company to recognise the top coders.
Infosys said it is also "aware of a securities class action lawsuit" that has been filed against the company in a federal court in the US, based on the generalised allegations in the anonymous complaints. The company intends to defend itself vigorously in such a lawsuit.
The IT firm will soon initiate discussions with colleges to start the process from September.
In a discussion with Bibhu Ranjan Mishra and Pradeesh Chandran, executive co-chairman designate S Gopalakrishnan talks about the challenges Infosys faces.
'Such steps would be a barrier and something people do not want.'
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.
Pratt, who joined the firm in 2004, has left the company to start his own entrepreneurial venture.
Takes a knock after RBS changes plan on Williams & Glyn; contract loss to impact 3,000 Infy staffers
Experts believe it is extremely important for Sikka to connect with employees to gain acceptance at Infosys, which has had home-grown leaders so far.
The results will give an indication whether Nilekani would continue with the software plus services strategy adopted by Sikka, or tweak it to reflect his worldview of the explosion in data.
IT service company Wipro on Friday reported 7.8 per cent year-on-year decline in its consolidated net profit for the March quarter to about Rs 2834.6 crore, and cautioned that the macroeconomic environment remains "uncertain". The Bengaluru-headquartered company, which recently saw a change of guard with Srinivas Pallia taking over at the helm as the new chief executive officer, has given an IT Services revenue growth guidance in the (-)1.5 per cent to +0.5 per cent band for June quarter on a constant currency basis.
A lot of my decisions are based on idealism, says N R Narayana Murthy
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.
Nilekani has kept pace with technology advances, has been instrumental in digitalising the country, and is well-networked with the bureaucracy and global leaders
Infosys usually gives a wage rise to employees every April.
The all-cash transaction is likely to be complete in the first quarter of 2020, subject to regulatory clearance.
At the very least, it will cost Infosys thousands of dollars to defend its position
Infosys is an ethical company with solid processes that respects its customers and this is not going to affect their business, he added.
Nilekani says life has come a full circle for him, as he heads back to the company he co-founded over three decades ago.
Infosys chairman Nandan Nilekani voluntarily chose not to receive any remuneration for his services.
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
N R Narayana Murthy, who returned to Infosys last month, has now taken over the driver's seat at the Bangalore-based company.
Infosys needs to be more innovative and disruptive with its product and services, keeping its focus on growth.
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