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 first-quarter performance of top IT services players, as well as mid-cap firms, has been subdued, reflecting macro uncertainties. The numbers of the top four firms show several misses, hinting at difficult times ahead. One mismatch is the total contract value (TCV) signed by the firms and the revenue growth registered.
According to the retirement policy followed at Infosys, Shibulal would retire in about three years, when he turns 60.
To recruit 1,500 by March 2015 and to add 600 graduates, postgraduates over the next 12 months
Vishal Sikka's may be a formidable name in the global technology segment, but he isn't your average geek who has time only for technology labs and technical journals.
The first option that the state government might opt for is offer Infosys space in one of the SEZs that are coming up, but that is unlikely to be accepted
The development comes at a time when Infosys' shares are trading at a record high.
Even after this sale, the founder group will continue to have a substantial shareholding in the company.
Foreign investors hiked their stake in Infosys to a nine-year high of 42.10 per cent in the January-March period of 2014.
Murthy said there was a need to change the mindset of the employees to focus on large deals.
Sources said the promotions, most of those on the delivery side of the business, would be handed out before October.
It has also informed the Bombay Stock Exchange that the Board of Directors of the Company at its meeting held on October 10, 2014, inter alia, has declared interim dividend of Rs 30 per equity share. The interim dividend declared in the previous year was Rs. 20 per equity share.
There is more good news for those looking for jobs at IT companies. Infosys plans to hire 30,000 professionals this year.
IT bellwether Infosys Technologies is on the prowl to acquire small and medium business process outsourcing companies that fit strategically with the operations of its subsidiary, Infosys BPO.
After 2 years of criticism, the brokerage firm approves new direction but says quick turnaround unlikely.
Sources said the spin-off, a joint venture company, was yet to be named.
Stamp of approval on CEO's strategy and long-term goal for the company
Experts believe the merits of Infosys' insiders lie in their youth.
This marks an increase of about 50% from previous year.
Constraints in acquiring land is hindering software major Infosys Technologies from expanding further in Bangalore, Nandan M Nilekani, chief executive officer, and managing director said on Wednesday.
"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.
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.
The recession hit IT industry would show positive signs of recovery by mid-2010 and Infosys will diversify into new markets then, a top IT company official said in Chennai on Tuesday.
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.
The company had sacked former chief executive officer Phaneesh Murthy in May this year over an undisclosed relationship with a subordinate.
Infosys will now be headed by its senior most founding member Nandan Nilekani, who was the CEO and MD. No decision had been taken on appointment of the new Chairman, company sources said.
Infosys was the worst performer among the bluechips on both the key indices.
Sikka said second quarter will be better than the April-June period
Infosys managing director and chief executive officer S Gopalakrishnan speaks about Infosys, version 3.0, the IT major's culture, what it implies and how it will tackle the competition.
The Infosys stock on Friday touched a two-year high, after brokerage firm CLSA said the company had the potential to double investors' money through the next three years.
Murthy on Saturday said the nation's second largest IT services firm had "diluted focus on meritocracy and accountability" in the past decade, forcing him to take "hard and tough decisions."
At the end of Q1, Infosys had 1,79,523 employees.
That's how Infosys CEO Nandan Nilekani sees the country's impact on the US economy, through globalisation and outsourcing.
Bangalore based IT major, Infosys Technologies Ltd, will maintain the $204 million to 207 million revenue guidance for the fourth quarter ending in March, despite business uncertainty emerging due to the Iraq crisis a top company executive said
I was given two mandates -- to work on individual productivity and to drive automation, says N R Narayana Murthy's son.
Vishal Sikka is equally comfortable designing cutting-edge software as he is negotiating in the boardroom.
State government says Infosys is Karnataka's baby and it will give the company full support to stay in the IT Park.
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.
After startups and Big Tech, the layoff season may have begun at the $245 billion Indian information-technology (IT) industry. Bengaluru-based IT major Wipro is looking to cut hundreds of jobs, targeting mid-level employees working onsite as the company looks to improve margins, according to a media report, citing two sources. The company has said it is aligning its business and talent to the changing market environment.
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