Infosys is still one of the best companies,for everything is transparent to the public shareholders unlike 90% of companies where only the management& their close associates have access to the inside turmoil and happenings resulting in those people only get benefitted at the expense of ignorant public shareholders,as happened in the case if Global trust Bank fiasco.In Global trust bank fiasco,except public shareholders,promoters,institutions,SEBI,RBI,close associates had privy to inside turmoil but nobody botheredabout lpublic shareholders.All Sold their shares well in advance except public who still left with lakhs of this so called Globally Trusted Bank shares promoted by highly innovative promoter of those times( in deceiving to make money).Still Infosys is one of the few best companies to invest leave aside the turmoil,which is good one way to keep all top executives on their takes to deliver good results.Better take the advice of fatherly Narayanamurty as chiding to erring proudish modern sons caring a hoot for elders .
Vishal Sikka was not drawing pittance before joining Infosys! He was leading a Global MNC. His pay and perks are reviewed and approved by the board. If his performance not matching up to the expectations, he could be sacked on that basis or his compensation could be calibrated accordingly. Just because entry level employees without any industry experience willingly joining the organization for an agreed salary at lower range, does not make Vishal Sikka a culprit on the Corporate Governance front. Infosys may be an Indian company but Vishal Sikka was stationed in California and this was a prerequisite conditions then Infosys Board agreed to it. He cannot live in California drawing Indian salary....All these funny allegations on the deals will not cut any ice unless there is a damning evidence to point finger at Vishal Sikka...He deserves far better than Infosys IMO
Re: Do you want CEO to run without proper pay?
by Chaitanya on Aug 20, 2017 01:36 PM
@Dony Worry:
Not sure why you've posted the same message so many times. Maybe some technical glitch.
You talk about "entry level employees willingly joining". VS too joined willingly. No one coerced him to join and no one coerced him to stay.
No one said that VS'salary is a Corporate Governance issue. Not sure why you have state the obvious.
There are other issues of Corporate Governance, which have been raised enough times in writing between NM and the Board, and which have been spelt out in this Rediff article. Includes te clean-chit from the Panaya panel.
As for VS living in California, and hence deserving a California salary: if that's a valid justification, ten surely it must have been discussed when VS was hired? Surely VS can allude to that discussion (if it happened) when his hike is question now? Instead, the Board and VS choose to maintain a long silence on all questions raised by investors, including the major shareholder NM. Then, one fine day, VS resigns like a petulant child, writing a long email that still avoids answering the questions raised. That's definitely bad Corporate Governance.
Re: Do you want CEO to run without proper pay?
by R Swaminathan on Aug 20, 2017 07:55 PM
We do not need the like of Vishal and the like of him.NRN made the mistake of handing over an iconic indian company to a NRI U.S.based Vishal with no interest in protecting lacks of youngsters. There is no morality in hiking own salary at a filthy level.Does he not have any conscience?
Do you want CEO to run without proper pay? by
Dony Worry on Aug 19, 2017 09:27 PM | Hide replies | Hide message
Vishal Sikka was not drawing pittance before joining Infosys! He was leading a Global MNC. His pay and perks are reviewed and approved by the board. If his performance not matching up to the expectations, he could be sacked on that basis or his compensation could be calibrated accordingly. Just because entry level employees without any industry experience willingly joining the organization for an agreed salary at lower range, does not make Vishal Sikka a culprit on the Corporate Governance front. Infosys may be an Indian company but Vishal Sikka was stationed in California and this was a prerequisite conditions then Infosys Board agreed to it. He cannot live in California drawing Indian salary....All these funny allegations on the deals will not cut any ice unless there is a damning evidence to point finger at Vishal Sikka...He deserves far better than Infosys IMO
Do you want CEO to run without proper pay? by
Dony Worry on Aug 19, 2017 09:27 PM | Hide replies | Hide message
Vishal Sikka was not drawing pittance before joining Infosys! He was leading a Global MNC. His pay and perks are reviewed and approved by the board. If his performance not matching up to the expectations, he could be sacked on that basis or his compensation could be calibrated accordingly. Just because entry level employees without any industry experience willingly joining the organization for an agreed salary at lower range, does not make Vishal Sikka a culprit on the Corporate Governance front. Infosys may be an Indian company but Vishal Sikka was stationed in California and this was a prerequisite conditions then Infosys Board agreed to it. He cannot live in California drawing Indian salary....All these funny allegations on the deals will not cut any ice unless there is a damning evidence to point finger at Vishal Sikka...He deserves far better than Infosys IMO
Do you want CEO to run without proper pay? by
Dony Worry on Aug 19, 2017 09:27 PM | Hide replies | Hide message
Vishal Sikka was not drawing pittance before joining Infosys! He was leading a Global MNC. His pay and perks are reviewed and approved by the board. If his performance not matching up to the expectations, he could be sacked on that basis or his compensation could be calibrated accordingly. Just because entry level employees without any industry experience willingly joining the organization for an agreed salary at lower range, does not make Vishal Sikka a culprit on the Corporate Governance front. Infosys may be an Indian company but Vishal Sikka was stationed in California and this was a prerequisite conditions then Infosys Board agreed to it. He cannot live in California drawing Indian salary....All these funny allegations on the deals will not cut any ice unless there is a damning evidence to point finger at Vishal Sikka...He deserves far better than Infosys IMO
The father, mother and the mentor of the institution was unduly distressed with a child he adopted from silicon valley rather than picking up from his own cadre seasoned with the institutional values so dearly cherished by the father.
He protested the extravagance and the prodigality of his adopted child getting spoilt and unruly, according to him, like most fathers of today, but the prodigal son, like most of the sons today, felt he is hardly spoilt.
He probably wanted to make it at par with silicon at the cost of the work force. silicon is a hire and fire culture full of meanness most unbecoming to the culture of this unique institution of Bharatvarsh.
The board has become like BCCI and may need to be dealt with accordingly by Sebi and perhaps even the apex, in the interest of the large workforce, huge investor public and the 13% stake of the founders.
VS had a vision towards the future and tuning the company towards changing technology trends. The old man should keep his mouth shut and enjoy his retirement and play with grand children. no point in poking at company affairs once you have put in a guy to run the show. He and his son could not do much when he came back for a short 2nd term...he is old and outdated and business runs on being relevant to the changing market trends and the bakths of the the old man should also realise this. Individual worship has gone too far..
Re: Old Man should keep his mouth shut
by Chaitanya on Aug 19, 2017 09:33 PM
@Nameless:
Like the Board, you too have conveniently side-stepped all the issues that were being raised by investors and promoters, and which were re-stated here in the article.
Instead of commenting on any of those issues, you simply says "the old man should keep his mouth shut, he is old, he is outdated", etc.
Whatever "vision" VS is articulating is neither originally his, nor is his execution of vision anything special.
Every IT company, small or big, had started focussing on automation, AI, machine learning at least 5 years ago, if not more.
I am employed in the industry, and so I've seen the changes across IT companies.
Talking about old, probably even TCS Chandra and Wipros Premji are not much younger than NM. Right now, in this context, NM's age is irrelevant.
Deeply disappointed with article. Gives a one sided view of things. If Mr. Narayana Murthy had issues with the management of Infosys, he should have discussed it in private rather than attacking the management in public which also was hurting the company
Narayan murthy and other promotors sold their shares in infosys at a good price. today they hold only 12% shares. With such low percentage of holding you can not dictate to professional management of Infosys if Mr.Murthy is not happy what prevents him in encashing the investment and let the company mange its affairs without constant bickering. Ratan Tata could callthe shots in TATA group as TATA SONS have majority shareholding. They did not sell their shares for making profits. You can not have the cake and eat it too. Mr.Narayan Murthy may be jealous of a professional business executive getting a good remuneration.
Re: infosys mess
by viswanath n on Aug 20, 2017 12:54 PM
NM was surprised at the clean chit given in the panaya deal and basically he was questioning the facts the law firm came to conclusion. REst of all happened and happening were add-ons of fuel to the fire.
