The succession strategy has an unmistakable stamp of Murthy's sharp management and leadership acumen - a trait he has been regarded for all this while.
With the festival sales in full swing, e-commerce firms are ramping up hiring to meet the increasing consumer demand. Close to 300,000 new jobs have been created in the sector so far and over 500,000 more jobs are expected to be added till Diwali, according to a report by TeamLease. The demand for gig workers is, however, not restricted to tier-1 cities. Tier-2 and tier-3 cities have seen an increase of 40 per cent, with a higher demand for delivery workers, according to a TeamLease report.
Wrestler Divya Kakran defends WFI chief Brij Bhushan
Infosys Senior Vice President Sanjay Rajagopalan has resigned from his post, a month after Vishal Sikka stepped down as the company's MD and CEO.
Parekh in a video address to employees expressed delight on leading the iconic company
'After some time, they all want to know what is happening in their companies.' 'It is better they remain board members rather than talk outside.'
Firm's dented image following Sikka's exit could bring down revenues in the margin rich US market and force Infy to hire fewer Americans, as hiring locals in developed markets comes at a cost.
Nilekani has kept pace with technology advances, has been instrumental in digitalising the country, and is well-networked with the bureaucracy and global leaders
In spite of that the founders never voted against any resolution, those who differed abstained.
Sikka has expanded the role of former SAP executive Ritika Suri.
With a total compensation of Rs 1,500 million, C P Gurnani of Tech Mahindra is the highest paid CEO of a tech firm.
Erin Green, former head of immigration, Infosys says says only the loss of a big client could push Infosys to correct its internal corporate culture.
Sikka pays 4 business heads million-dollar salaries as incentive to reach the company's revenue target of $20 billion by 2020.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
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.
Sore points: Sikka's salary, high severance pay to executives, poor disclosures.
Supply chain constraints will keep plaguing automobile companies even though demand significantly improved resulting in a 13 per cent year-on-year (YoY) increase in sales in financial year 2021-22 (FY22). Executives at auto firms fear that the Russia-Ukraine war will further dent the sector's prospects of recovery as supply chains face more disruptions. "The visibility in the supply side is so hazy that it is difficult to give even one quarter projection. But all the parameters of demand like pending bookings and enquiries are increasing.
Rediff.com caught up with Reliance Capital Asset Managment CEO Sundeep Sikka, to discuss the success of Reliance Mutual Fund.
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.
Uber may be in the midst of a major controversy over a rape incident in India, but Infosys' CEO Vishal Sikka feels that digital services like this app-based taxi provider have huge potential in the country.
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.
In August, Vishal Sikka had spoken about a new strategy, focused on renewing core business while building new capabilities like design thinking at the same time.
Bankers said as part of its debt reduction plan, Canada's Brookfield-sponsored India Infrastructure Trust acquired a pipeline for Rs 13,000 crore from East West Pipeline Ltd, an arm of Reliance Industries Holding Private Ltd, and all the liabilities are now off the subsidiary's books.
Vishal Sikka who was made vice-chairman till his successor was appointed, also quit the board with immediate effect.
Infosys has been aggressively embracing automation tools.
Murthy's letter comes even as Sikka celebrates the completion of three years at the helm of India's second largest software exporter.
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.
Nilekani is an organised person and his strength is simplification of complex ideas, said Murthy.
Asked if there was a timeline to see a turnaround at Infosys, Kamath said the country's second largest software services firm was a profitable company.
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.
Infosys chief Vishal Sikka also said that demonetisation has shown to the world that Indians are ready to adopt new technology disruptions.
Sikka said second quarter will be better than the April-June period
The new CEO's next challenge is to grow margins.
The transformation will be driven by the number of initiatives the company has identified.
I have no hesitation to say that the cultural milieu is different, said chairman R Seshasayee in a rare media interaction.
'There will only be an institutional solution between the board and the founders to take Infosys forward.'
'Pravin Rao's commitment and contribution to the company has been immense, and his partnership over the past three years has been critical to the successes and growth of our company,' said Vishal Sikka, chief executive officer at Infosys.
Major is in a perennial state of exaggeration. The sighs, the misty eyes, the mushy speeches, its details are invested in highlighting all things in-your-face, observes Sukanya Verma.
Pai sought to look at the issue of founders raising questions as shareholder activism.
Sikka said recent initiatives had started yielding dividends.
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