Infosys founder Murthy criticises COO pay hike - reports [Reuters]
Infosys Limited American Depositary Shares (INFY)
Last infosys limited american depositary shares earnings: 4/21 04:00 pm
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Source: Reuters
Infosys founder Murthy criticizes COO pay hike: reportsn"The dispute between founders and board of India's second largest software services company Infosys Ltd over governance issues spilled into the public again as founder Narayana Murthy criticized a salary hike given to Chief Operating Officer Pravin Rao.In a letter published in full text by some dailies including Business Standard, Murthy criticized the steep rise in Rao's salary. (bit.ly/2nuNnN9)"Giving nearly 60 percent to 70 percent increase in compensation for a top level person (even including performance-based variable pay) when the compensation for most of the employees in the company was increased by just 6 percent to 8 percent is, in my opinion, not proper. This is grossly unfair to the majority of the Infosys employees...," said Murthy in the letter."The impact of such a decision will likely erode the trust and faith of the employees in the management and the board," added Murthy.According to a stock exchange filing by t
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