Infosys revises pay for senior executives

The firm also inducted founder and CEO of Surya Software Systems D N Prahlad as an independent director on its Board

Infosys Technologies announced revised salaries for senior executives, offering higher variable pay linked to the company’s performance.

The wage hike, with a higher variable pay and stock options, is being offered to chief operating officer Pravin Rao, chief financial officer M D Ranganath and seven other seniors.

Infosys has also proposed to induct Mohit Joshi, Sandeep Dadlani, Rajesh K Murthy, RaviKumar S, Krishnamurthy Shankar, and David Kennedy in the existing category of key managerial personnel.

“There has been a restructuring of the existing leaders. It is important to improve their bandwidth and agility…(at the same time) to give them a very clear focus on accountability and target beyond revenue growth in ensuring the (right) strategy,” said chief executive Vishal Sikka.  

He added the top three leaders in sales would be instrumental in achieving the revenue target of $20 billion annually by 2020.

“We are now approaching $10 bn in revenue. This quarter, we will cross it. So, it means three sales presidents are collectively handling more than $3 bn (worth)  responsibilities, huge direct responsibilities. They also have serious global responsibilities,” he said.

The board of directors got a new member in D N Prahlad, a former employee and distant relative of company co-founder N R Narayana Murthy. With over three decades of technology expertise, he is founder and chief executive of Surya Software Systems. He is on the advisory board of the computer science and automation department of the Indian Institute of Science here.