CEO Salil Parekh to earn a fourth of what Vishal Sikka signed up at Infosys
Posted on 4th January 2018 |
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Salil Parekh will earn an annual salary of Rs 162. 5 million ($ 2.55 million) as the CEO of Infosys, which is a quarter of what Infosys had signed up with his high profile predecessor Vishal Sikka, who quit the firm after three years in turmoil. The compensation also reflects the reality at Infosys and its chairman Nandan Nilekani who would like the low profile senior executive to execute a vision of focused delivery for customers than over promise and under delivery that would be in contrast with the company's culture. |
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Infosys divests stake in ANSR
Posted on 30th December 2017 |
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BENGALURU: Infosys has divested its stake in ANSR Consulting Holdings for $1 million. Bengaluru-based ANSR, led by Lalit Ahuja, helps global companies set up captive centres in the country. Among the companies it has brought in are L Brands, Lowe's, Target and Swiss Re. Infosys invested $1.4 million for less than 5% stake in ANSR two years back, when the company was headed by Vishal Sikka. This was the company's first investment in an Indian firm after setting up a $500 million Innovation Fund. |
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Increasing automation, Infosys spat disrupted India’s IT industry
Posted on 27th December 2017 |
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The resilient Indian IT industry, which has been going through challenging times on multiple fronts, faced disruption in 2017 from increasing automation and the boardroom spat in software major Infosys spilling into the public domain. Though the $150-billion (almost Rs 10 trillion) software sector reconciled to single digit export growth of 7-8 per cent for the 2017-18 fiscal, demand for more automation and using Artificial Intelligence (AI) in the services had put the vendors under pressure to hone the skills of their techies in the thousands and invest in new technologies to deliver on time for global enterprises. |
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Infosys completes Rs 13,000 crore buyback
Posted on 23rd December 2017 |
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IT services major Infosys on Saturday said it has completed its Rs 13,000 crore buyback programme that saw participation from Sudha Gopalakrishnan, Rohan Murty and LIC among others. The buyback scheme - a first in the company's over three decade history commenced on November 30 and closed on December 14. |
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Infy yet to crack Panaya puzzle
Posted on 12th December 2017 |
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Mumbai: The Panaya Phantom continues to haunt Infosys - and attempts by the board of the $10-billion software giant to inch towards some form of closure are being badly stymied. On Monday, former CFO Mohandas Pai - one of two close confidants of founder NR Narayana Murthy - gave a clear indication that they would not back down from their original demand for a full release of the investigation reports into the Panaya buyout. |
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Fresh turmoil brews at Infosys
Posted on 11th December 2017 |
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Mumbai: The troubles that have rocked Infosys over the past year show no signs of going away in a hurry amid growing suspicion that a very senior official in the $10-billion software major is probably behind the latest letter to securities regulator Sebi seeking to nix the company's petition to settle through the consent route the disclosure lapses relating to the severance package paid to its former CFO Rajiv Bansal. The consent mechanism allows a party to settle disputes or suspected wrongdoing without the admission of guilt. |
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Infosys files settlement plea with Sebi over Bansal pay
Posted on 7th December 2017 |
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Infosys on Wednesday said it had approached market regulator, the Securities and Exchange Board of India (Sebi), to settle issues arising out of alleged disclosure lapses in the severance package paid to former chief financial officer (CFO) Rajiv Bansal. The company, led by former chief executive officer (CEO) Vishal Sikka, had sanctioned the severance package of Rs 17.38 crore in October 2015. Bansal was sacked over differences with Sikka over the acquisition of Israeli technology firm Panaya for $200 million. |
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Infosys' new CEO & MD Salil Parekh is a perfect fit for future vision
Posted on 4th December 2017 |
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In October this year, Infosys Non-executive Chairman Nandan Nilekani defended former chief executive officer Vishal Sikka’s philosophy: “Strategy is not a PowerPoint presentation. It is about how you translate it on the ground, with scale and speed.” Nilekani might have found the right person in Salil S Parekh to execute the vision of software-led services model for Infosys that Sikka developed. |
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Infosys buyback: A chance for small shareholders to cash out
Posted on 1st December 2017 |
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The Rs 13,000-crore share buyback programme of Infosys commenced on Thursday. Eligible shareholders can tender their shares till December 14, the last day of the buyback. The buyback price offered by the company is Rs 1,150. Therefore, investors can pocket 18 per cent more upside (at current market rate) by tendering their shares. The entitlement ratio for retail shareholders works out to 28 per cent. In other words, 28 shares of those holding 100 shares will get accepted in the buyback. |
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Infosys buyback 2017 offer opens this week: Record date, latest news, all you need to know
Posted on 28th November 2017 |
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Infosys share buyback is all set to open on Thursday, 30 November 2017, after India’s second largest IT company Infosys announced 1 November as the record date for the repurchase of shares. In the Infosys buyback offer, all the investors who held Infosys shares as on 1 November 2017 are eligible to participate in Infosys buyback process. The record date for Infosys buyback was announced on 10 October 2017. The second largest IT company — Infosys — is coming up with the second largest share buyback in the history of Indian stock markets. Earlier in May 2017, India’s largest share buyback to date was offered by the country’s largest IT company — Tata Consultancy Services. |
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