Infosys' board has approved annual performance-based stock grants worth Rs 51.75 crore for Chief Executive Officer and Managing Director Salil Parekh, aligning with his tenure ending in March 2027.
India's second largest IT company Infosys' board has approved the grant of stock incentives or Employee Stock Option Plans (ESOPs) worth over Rs 51 crore to CEO and MD Salil Parekh. These stock incentives are under various heads including ESG and equity, and add up to over Rs 51 crore.
The low-profile CEO started his new innings with the new year.
India's second largest IT services company Infosys on Thursday made it clear that the company does not support moonlighting and said it has fired employees who were into dual employment over the last 12 months. Infosys, however, did not divulge the exact number of people who were "let go" on account of moonlighting. Last month, Wipro chairman Rishad Premji revealed that some 300 employees were fired as the IT services company had no place for any employee who chose to work directly with rivals while being on Wipro payrolls.
Indian IT services company Infosys on Thursday said all its employees in Israel are safe. Amid escalating tensions in the Middle East, Infosys CEO and MD Salil Parekh said its employees in Israel are primarily locals but declined to comment on the exact staff strength there. The company further said it is "saddened" by the situation unfolding in the region.
2019, however, will be a bigger test as the firm continues to deal with rising attrition and margin pressure.
India's second-largest software services company Infosys on Wednesday posted 12 per cent year-on-year rise in consolidated net profit at Rs 5,686 crore for March quarter 2021-22. The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,076 crore in the corresponding period previous year, according to a regulatory filing. Infosys' revenue grew 22.7 per cent to Rs 32,276 crore in the quarter from Rs 26,311 crore in the year-ago period, it added.
After posting double-digit growth for the fourth consecutive quarter, chief executive officer and managing director Salil Parekh tells Yuvraj Malik and Debasis Mohapatra that the firm is not facing any delay in ramping up of large deals.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
Infosys reported a 20.8 per cent increase in consolidated net profit to 8,501 crore for the January-March quarter of FY26, with revenue from operations rising 13.4 per cent to 46,402 crore. The IT major has guided for a 1.5 to 3.5 per cent revenue growth for FY27, driven by momentum in financial services, utilities, and emerging AI services, despite a volatile macroeconomic environment and geopolitical risks.
Infosys, in 2019, was given the contract to develop the new portal. It was launched in June last year and stakeholders had reported glitches and difficulties in the functioning of the portal. "On the I-T project, we are extremely proud that as of December 31, as was reported, 5.8 crore returns were filed through that timeframe.
Parekh in a video address to employees expressed delight on leading the iconic company
Over the last years, taking the helm at Infosys has always had a strong resemblance with taking a roller-coaster ride
Infosys on Tuesday unveiled its AI First Value Framework, positioning itself to capture an estimated $300-400 billion incremental AI services opportunity by 2030, as global enterprises accelerate adoption of generative and agentic AI.
In 2017, when Infosys announced that Salil Parekh would be its next chief executive officer (CEO) and managing director (MD), very few in the industry or the analyst community doubted his ability to bring the company back to a healthy growth trajectory, improve morale within the company and, more importantly, win the promoters' trust and investor confidence. There were reasons for this confidence. He was not only the deputy CEO of the Paris-headquartered IT services major Capgemini, but also one of the only non-European faces on the executive board of the company.
March was the first full quarter for Infosys under its new CEO Salil Parekh.
There are concerns in the industry around budget cuts by clients and layoffs, as enterprises grapple with reduced earnings amid lockdowns across various parts of the globe.
Infosys CEO Salil Parekh, has praised the company's founders for building an "incredible organisation", and exuded confidence that the firm which "has always been solid" will "continue with that stability." Parekh - who steered the firm to stability after a bitter spat between founders and then-management a few years back - believes that Infosys is "well positioned" to leverage tech-led growth opportunities over the next several years. Parekh took over at the helm in January 2018, after a standoff between board and founders, including NR Narayana Murthy, over issues such as governance, led to the exit of then-CEO Vishal Sikka.
The latest whistleblower complaint accusing him of pressuring finance team members to inflate profitability has come right out of the blue. There's another allegation that he made racist remarks against some board colleagues. For a man with a singular focus on the business and clients, all of this must have blindsided him.
Infosys Q4 results beat estimates, but weak FY27 guidance triggers cautious brokerage outlook and target price cuts. Should investors worry?
Infosys chairman Nandan Nilekani voluntarily chose not to receive any remuneration for his services.
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.
Infosys on Wednesday reported a one-time exceptional hit of Rs 1,289 crore on account of the impact of the implementation of new labour codes, as India's second-largest IT services firm announced its December quarter earnings.
IT services major Infosys on Wednesday reported a 2.2 per cent decline in consolidated net profit to Rs 6,654 crore in the October-December quarter of FY26. The Bengaluru-headquartered firm had registered a net profit (attributable to owners of the company) of Rs 6,806 crore in the year-ago period.
Infosys and Intel have announced an expanded strategic collaboration to help global enterprises transition from AI pilots to full-scale production, integrating Infosys Topaz Fabric with Intel's high-performance compute platforms.
Infosys shares experienced a significant drop, hitting a 52-week low, after the company announced its Q4FY26 results and provided a modest revenue growth guidance of 1.5-3.5 per cent in constant currency for FY27, falling below market expectations and raising concerns about AI-led deflation and margin pressures.
In Parekh, an IIT-Bombay and Cornell University alumnus, Infosys may have finally found a person who will grab the market opportunity with good execution.
With Infosys emerging out of an uncertain phase, the new management, led by CEO & MD Salil Parekh, is trying to catch up with market leaders, with the new strategy in place.
Infosys on Tuesday announced a strategic collaboration with American artificial intelligence company Anthropic to develop and deploy advanced enterprise AI solutions for companies across telecommunications, financial services, manufacturing, and software development.
In his second year at the helm, Infosys CEO & MD Salil Parekh looks optimistic about the company's growth prospects. With stability back in the industry, Parekh, in an interview with Bibhu Ranjan Mishra and Debasis Mohapatra, says turbulence is over and Infosys is on its way to regaining its old glory.
The 15-year agreement will see Infosys develop a next-generation, data-driven workforce management platform to replace the existing electronic staff record (ESR) system, which annually manages a 55 billion payroll for 1.9 million NHS employees.
Parekh, who is joining the company from Capgemini, will take over on January 2, 2018..
Much, much, much before Rocky Aur Rani Kii Prem Kahaani fussed over What Jhumka, Asha Bhosle trilled in her alluring voice and teased us with tantalising details about the events leading to her precious Jhumka's loss.
Infosys on Wednesday reported an 8.7 per cent increase in consolidated net profit in the June quarter to Rs 6,921 crore, as India's second-largest IT services firm forecast a 1-3 per cent revenue growth for the full FY26. The Bengaluru-headquartered firm had logged a net profit (attributable to owners of the company) of Rs 6,368 crore in the year-ago period, according to a regulatory filing.
Information technology (IT) services major Infosys on Wednesday announced the formation of a joint venture (JV) with Telstra, Australia's leading telecommunications and technology company. This will allow Infosys to accelerate artificial intelligence (AI)-enabled cloud and digital solutions for Australian businesses.
The US has replaced random H-1B selection with a wage-weighted lottery and a new $100,000 fee for applications, raising uncertainty for students and junior hires.
United States, the largest market for the $282 billion Indian IT sector, is a "wild card" for the industry, lobby grouping Nasssom's president Rajesh Nambiar said on Monday. Speaking to reporters Nambiar said the tariff threats by the US may turn out to be the biggest headwind for the sector. "Broadly, if you were to look at the headwinds, the biggest unknown there would be the tariffs and the impact of what happens in the US market," Nambiar said.
The time is up for the over three-decades-old business model with the advent of artificial intelligence, HCL Technologies' chief executive C Vijayakumar said on Monday. Speaking at industry lobby grouping Nasscom's annual NTLF event in Mumbai, Vijayakumar said companies need to be "paranoid", given the wide-ranging impact of AI and stressed that this attitude will help them to be relevant and grow. "I strongly believe that the business model is ripe for disruption.
Infosys commits to hiring 20,000 graduates amid industry-wide layoffs and uncertainty.
Infosys CEO Salil Parekh has indicated that offers given to freshers will be honoured by the company and followed with joining, although there has been some change in dates. The comments of Infosys top honcho assumes significance amid reports that the company has delayed onboarding of 2,000 fresh engineering graduates from 2022-batch.
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