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Kiran Mazumdar-Shaw gets second term as Infosys' lead independent director

Press Trust of India  |  New Delhi 

Friday said its board has reappointed Mazumdar-Shaw as the for a second term.

"Based on the recommendation of the (NRC), the board considered and approved reappointment of Mazumdar-Shaw as for a second term from April 1, 2019 to March 22, 2023, subject to shareholders' approval," said in a BSE filing.

said Mazumdar-Shaw's continuity, experience and insights are greatly valued by the board as it guides the company in executing its strategy in the coming years.

"has been a pillar of strength to the board, especially over the last 18 months, as we steered the company to stability and growth. As of the NRC, she played a critical role in the and CFO selection process," Nilekani said.

Mazumdar-Shaw also serves as the of company

Infosys' board also approved grant of Restricted Stock Units (RSUs) to and MD Salil Parekh and UB Pravin Rao.

"Grant of annual RSUs having a value of Rs 3.25 crore to Salil Parekh...The grant date for these RSUs is February 1, 2019. The RSUs would vest over a period of three years..." it said.

Rao, based on his performance in 2017-18, has been granted 68,250 RSUs. The grant date for these RSUs is February 1, 2019 and these would vest over a period of four years, it added.

The board also approved revision of compensation of key management personnel including (President), S (and Deputy COO), Inderpreet Sawhney (Group General Counsel and Chief Compliance Officer), (Executive VP) with effect from October 1, 2018.

Besides, revision of compensation of Jayesh Sanghrajka (Deputy CFO) and AGS Manikantha (Company Secretary) was also cleared by the board.

"The revised aggregate compensation of these key management personnel includes fixed compensation of Rs 18.20 crore and target variable compensation of Rs 13.60 crore. Additionally, based on fiscal 2018 performance, 3,72,100 RSUs were granted under the plan," it said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 11 2019. 18:55 IST