Infosys appoints Pravin Rao as whole-time director

Rao would receive a monthly salary of Rs. 4,48,000 in scale of Rs 4,45,000 to Rs 8,00,000 per month

Infosys, India’s second largest information technology (IT) services company, has appointed President and Board Member U B Pravin Rao as a whole-time director for a period of five years, starting January 10, 2014.

The decision was taken at a company board meeting on January 10, 2014, based on the recommendations of the nominations and governance committee, and management development and compensation committee, Infosys said in a notice to BSE today.

This announcement comes less than a month after the Bangalore-based company elevated Rao as one of its two presidents, along with B G Srinivas.

With this appointment, Rao would receive a monthly salary of Rs. 4,48,000 in the scale of Rs 4,45,000 to Rs 8,00,000 per month. He would also be eligible for a bonus of up to 20% of the salary. Rao would also be entitled to some other remunerations, such as performance bonus and long-term bonus.