In a major top-level management restructuring, India's second largest software firm Infosys on Saturday named veteran banker K V Kamath as the new chairman to succeed founder N R Narayana Murthy, who retires in August.
Domestic traders body CAIT on Thursday claimed that e-commerce major Amazon's plan to acquire Prione Business Services - its joint venture firm with Catamaran - will be a violation of foreign direct investment policy. Amazon has said it will acquire Prione Business Services, subject to requisite regulatory approvals. In August, Amazon and NR Narayana Murthy's Catamaran had announced that they will not continue their joint venture Prione Business Services beyond May 2022.
Silent support for the movement, which has recently turned its guns against industry, has come from India Inc as well, mainly from Infosys founder N R Narayana Murthy, who made donations of Rs 25 lakhs (Rs 2.5 million) in 2011.
But Indians work less than smaller countries with small populations like Bhutan, the Congo, Lesotho and Gambia.
'Rohan would be my executive assistant and he would receive a salary of Re 1 a year.'
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
There has not been a single invention from India in the last 60 years that became a household name globally, nor any idea that led to "earth shaking" invention to "delight global citizens", IT czar N R Narayana Murthy said.
The founders, who hold 12.75 per cent stake in Infosys, together with a dozen leading institutional investors with a cumulative stake of about 10 per cent forced the Infosys board to bring back Nilekani.
As four founder families sold part of their Infosys holdings on Monday, CEO Vishal Sikka said monetisation of shares for philanthropic and entrepreneurship purposes was in line with the company's values.
Narayan Murthy says the software industry has boosted the international image of India like no other sector.
The Infosys saga shows how efforts to remote-control a company by its powerful promoter, even with good intentions, might hurt the entity, says Asish K Bhattacharyya.
Their investments in start-ups exceed Rs 1,000 crore at present.
Fundraisers held in New York, San Francisco and Atlanta for India-based non-government organisation Akshaya Patra that strives for wholesome school kitchens is expected to raise a whopping Rs 5 crore in charities this year. Arthur J Pais reports
Over the past few months, Infosys has been battling allegations by Murthy and other former senior executives of falling corporate governance standards.
Infosys Chief Executive Officer-designate Vishal Sikka might be new to Indian information-technology (IT) services business, but his past credentials were enough for the company's shareholders to offer him a warm welcome at an Extraordinary General Meeting (EGM) that was called to seek approval for his appointment, among other things.
After auto makers, PSA Peugeot Citron and Ford, IT major Infosys Limited is vying for land in Gujarat. N R Narayana Murthy, chairman and chief mentor of the company, will meet Gujarat Chief Minister Narendra Modi on Tuesday to discuss setting up of a campus in the state.
"There was not a single decision that I took during my second tenure without discussing it with Ranga and getting valuable input from him," says Narayana Murthy.
Several observers have questioned the weakness in execution of the 3.0 strategy.
Proxy advisory firms say the praise on Twitter was uncalled for.
Reliance Industries chairman Mukesh Ambani and his wife Nita Ambani topped a list of power couples dominated by celebrity pairs from Bollywood, according to the annual survey results released by the Indian Institute of Human Brands (IIHB) in Mumbai on Wednesday. Ranveer Singh and Deepika Padukone followed the Ambanis at No 2, and Virat Kohli and Anushka Sharma occupied the third position. Five other couples from the corporate world made it to the list - Infosys founder Narayana Murthy and Sudha Murty at 10th, Adar and Natasha Poonawala (Serum Institute) at 11th, Azim and Yasmeen Premji (Wipro) at 16th, Anand and Anuradha Mahindra (Mahindra Group) at 19th, and Kumar Mangalam and Neerja Birla (Aditya Birla Group) at 20th position.
The report, published by brokerage firm Ambit Capital Research, also says the promoters hold disproportionately high board representation with respect to their total shareholding in the Bengaluru-based company.
Chandrashekar Kakal was operational head of the India business unit.
The company might hire a foreigner chief executive officer for the first time.
Rishi Sunak married Akshata Murty in 2009, and the Prime Minister made a quick rise to power in the years that ensued.
Glimpses of the pro-Ukrainian demonstration in London on Wednesday, February 16, 2022, as the United States warned of a Russian invasion of Ukraine.
Doctors warn that overwork is leading to lifestyle diseases like diabetes and spondylitis.
Foreign institutional investors (FIIs) have continued to remain bullish on the Narayana Murthy-led Infosys, taking their holdings to record levels.
Karnataka police registered a case against the Infosys chief, while the state government condemned his remarks as an 'unpardonable offence.'
Spend on IT in US is expected to increase by 6.1 per cent in 2014.
Infosys has has the highest proportion of non-independent directors on its board.
Senior exits and across the board attrition have started affecting the company's ability to grow business
Providing an opportunity for the students to be with the country's renowned business personalities, the Hyderabad-based ISB has come up with the 'Shadow the CEO' programme, where one can bid for a person of their choice.
Infosys chief Narayana Murthy has emerged India's most admired business leader, ahead of late Reliance chief Dhirubhai Ambani, Azim Premji of Wipro and noted industrialist Kumarmangalam Birla, in a survey conducted among management students.
Last year, salary increases were given only in October, when the company came under pressure from increments offered by peers.
India's corporate sector sees big ticket deals in 2013.
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