Vishal Sikka talks about his chemistry with N R Narayana Murthy and about his plans to strengthen the leadership team.
Infosys burnt its fingers as the biggest loser -- sinking as much as 9.60 per cent to Rs 923.10 -- after the surprise announcement. Intra-day, it hit a low of Rs 884.40.
The Board rued that its efforts to resolve the concerns of the founders - who together own about 12.75 per cent stake in Infosys - over the course of a year through a dialogue have not been successful.
Sikka said he needs to move forward and return to environment of respect, trust and empowerment, where he can take on new lofty challenges.
The route to that target is clear in Sikka's mind.
If each one of us puts our minds to it, 2015 will be a year to remember, he said
'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.
Beating market expectations, Infosys had reported a 13 per cent jump in consolidated net profit for the third quarter
Infosys has slashed the full-year revenue guidance to 10.5-12 per cent in constant currency terms.
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.
Infosys has been struggling to revive high growth for two years.
Sikka has expanded the role of former SAP executive Ritika Suri.
Infosys had earlier this year decided to expand its 'Innovation Fund' five times to $500 million to provide financing to start-ups and new technologies.
With a total compensation of Rs 1,500 million, C P Gurnani of Tech Mahindra is the highest paid CEO of a tech firm.
Vishal Sikka, chief executive officer of Infosys has become the highest-paid professional CEO in India.
Government is set to release CPI for the month of May and Index of Industrial Production IIP for the month of April today.
The company's net profit stood at Rs 2,875 crore (Rs 28.7 billion) in the same period last year.
Sikka said second quarter will be better than the April-June period
Gender diversity is important to the success of companies,he said.
Sources said the promotions, most of those on the delivery side of the business, would be handed out before October.
Infosys chief Vishal Sikka also said that demonetisation has shown to the world that Indians are ready to adopt new technology disruptions.
Grandchildren and books will take up most of NR Narayana Murthy's time after he retires for the second time from the company he co-founded with six friends over three decades ago.
Revenue of the Bengaluru-based firm grew 1.7 per cent to Rs 17,078 crore in the June quarter as against Rs 16,782 crore in the year-ago period.
Balakrishnan, Pai write to board, seek correction in 'dramatic valuation disconnect' between shares of Infosys and its peers.
Infosys aims to achieve an aspirational goal of $20 billion in topline by 2020.
Sikka reinforces focus on automation & artificial intelligence
Chief Operating Officer UB Pravin Rao said the company will be back to historic performance levels in a couple of years.
At his last media interaction after announcing Infosys' quarterly earnings, the outgoing CEO talks about the company's business, the challenges it faces, and efforts to overcome them.
In spite of that the founders never voted against any resolution, those who differed abstained.
The 34th annual general meeting (AGM) of IT major Infosys held Monday was an exceptional one.
Infosys said on Monday it would buy Panaya Inc, a New Jersey-based provider of automation technology, for an enterprise value of $200 million
Sikka said since more and more of the work is now becoming automated, the Indian IT companies need to focus much more on the innovative areas and on the new areas.
In new year message, Sikka warns staff of automation, Premji talks of Wipro's core values
Pai sought to look at the issue of founders raising questions as shareholder activism.
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.
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 Senior Vice President Sanjay Rajagopalan has resigned from his post, a month after Vishal Sikka stepped down as the company's MD and CEO.
Apart from Infosys, players like Tata Consultancy Services and Mindtree have also pointed towards weakness in the financial services sector and project delays and cancellations that could impact the growth of the USD 110 billion IT services sector in the near term.
'There will only be an institutional solution between the board and the founders to take Infosys forward.'
The company expects its 2017-18 revenue to grow between 6.1 per cent and 8.1 per cent in dollar terms and 6.5-8.5 per cent in constant currency terms.
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