Infosys deflects Murthy's criticism, says Rao's hike must to retain talent

Rao's annual cash payment decreased by 10.6% to Rs 4.6 cr, performance-based salary increased by 63%

Infosys has defended the pay hike extended to its Chief Operating Officer Pravin Rao, saying the stock-linked compensation to its senior management, including Rao, was needed to retain talent as the company underwent a transformation.

Rao's compensation revision reflects the philosophy of aligning the interests of our leadership team to long-term shareholder interests, Infosys said in a statement on Monday, as it deflected criticism by its founder N R Narayana Murthy over the pay hike.

Murthy, who as part of the promoter group shareholders abstained from voting in a resolution to increase the pay to Rao, had criticised the board of poor