There’s no boardroom battle: Infosys chairman defends Sikka’s variable pay
Seeking to allay fears about a boardroom battle in the IT bellwether, Infosys chairman R Seshasayee said on Monday there is no battle between the board members and promoters of the company.business Updated: Feb 13, 2017 20:00 IST
Infosys chairman R Seshasayee said on Monday there is no battle between the board members and promoters of the I-T company.
“I don’t think there is any battle. There is no conflict of interest, there is only convergence of interest,” he said at a press meet in Mumbai.
Seshasayee also defended CEO Vishal Sikka’s pay package and said the compensation was related to a high level of target achievements.
Seshasayee also said it is the job of the company’s board to listen to everyone.
The press meet comes in the wake of Infosys founders, including NR Narayana Murthy, questioning the board’s willingness to be flexible with Sikka’s $11 million compensation.
Murthy and other co-founders Nandan Nilekani and S Gopalakrishnan, had reportedly written to the Infosys board asking why Sikka’s compensation was raised and hefty severance packages offered to two top-level executives who quit the company.
Infosys, however, has denied any corporate governance lapses, and has emphasised that its board is fully aligned with the strategic direction of Sikka and is very appreciative of the initiatives taken by him in pursuance of this transformation.
(With inputs from agencies)