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What is Infosys’ Corporate
The budget announced on February 1 is no longer the talk of the town. It is Infosys, one of India’s largest IT service
providers, that is making headlines. Here’s why:
• N R Narayana Murthy, the founder of Infosys, has flagged corporate governance concerns.
• The other founders, Kris Gopalakrishnan, and Nandan Nilekani, too voiced their concerns to the Board of Infosys.
• Corporate governance refers to a set or rules and policies that governs the functioning of a company, like the compensation
paid to a company’s executives.
First concern—Infosys CEO’s compensation:
• Narayana Murthy and the other founders argue that the board is paying too much salary to CEO Vishal Sikka than
• Last year, Infosys announced a raise in the annual compensation of Vishal Sikka, the Chief Executive Officer (CEO).
• His salary was fixed at $11 million for 2017, higher than the $7.08 million paid in 2016.
Second concern—High severance package:
• The founders also raised concern regarding the company giving higher-than-average severance packages in the past.
• Infosys gave a severance package of Rs 17.4 crore to Rajiv Bansal, the Chief Executive Officer, in 2016.
• David Kennedy, the outgoing General Counsel of Infosys was given a severance package of Rs 5.9 crore
What Infosys says:
• Infosys said in a statement: “The Independent Directors have no interest other than their commitment to enable this great
institution that has been assiduously built by the iconic Founders, to succeed.”
The market reaction:
• The stock market does not see a major problem here.
• Over the past one week, Infosys shares gained 2.4% while BSE Sensex traded flat.
Kotak Securities Limited. Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E),
Mumbai 400051. CIN: U99999MH1994PLC134051, Telephone No.: +22 43360000, Fax No.: +22 67132430.
Website: www.kotak.com / www.kotaksecurities.com. Correspondence Address: Infinity IT Park, Bldg. No 21,
Opp. Film City Road, A K Vaidya Marg, Malad (East), Mumbai 400097. Telephone No: 42856825. SEBI
Registration No: NSE INB/INF/INE 230808130, BSE INB 010808153/INF 011133230, MSEI INE
260808130/INB 260808135/INF 260808135, AMFI ARN 0164, PMS INP000000258 and Research Analyst
INH000000586. NSDL/CDSL: IN-DP-NSDL-23-97. Compliance Officer Details: Mr. Manoj Agarwal. Call: 022 -
4285 6825, or Email: firstname.lastname@example.org. In case you require any clarification or have any concern,
kindly write to us at below email ids:
• Level 1: For Trading related queries, contact our customer service at ‘email@example.com’ and for
demat account related queries contact us at firstname.lastname@example.org or call us on:
30305757 (by using your city STD code as a prefix) or Toll free numbers 18002099191 / 1800222299 and
• Level 2: If you do not receive a satisfactory response at Level 1 within 3 working days, you may write to us at
email@example.com or call us on 022-42858445 and if you feel you are still unheard, write to our
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