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Suspicion about severance pay being hush money disturbing, says Seshasayee

13 February, 2017 1:39 PM
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Suspicion about severance pay being hush money disturbing, says Seshasayee

The truce comes after Infosys clarified that it has not any engaged in illegal transactions

We need to make sure that the succession plan is orderly so that there is no narrow point of view, of one group. This is not for the law firm to mediate. It is not about fight, it is about passionate expression of comments.

We will continue to enage with all stakeholders. We are engaging with all founders, we engage wtih founders, separately, collectively, we get inputs from them.

6:40 PM: We need to recognise a global company and someone, which is in the cusp of the major transformative itself, rebrand itself, to get the right talent.

The data points, hi compensation was raised to $11 million. The fixed component has come down from $5.8 million to $3 million. One component was linked to longevity of Vishal. It is normal practice to longevity linked incentives.

6:01 PM: Vishal Sikka, Seshasayee, Infosys Chairman are at the press conference.

10:40 AM India would see the biggest impact on jobs due to automation, Sikka, said, quoting a research report.

Infosys CEO Vishal Sikka stressed that attrition has lowered since he took charge. He adds that the company's attrition is rate has fallen below 15 percent (from 23.4 percent) since he joined. "We are simplifying internal processes to become more agile." He also said that during his tenure, $100 mn accounts have increased from 12 to 18. Endeavour is to move toward transformative projects from grass root level, said Sikka at the investor meet.

Source: business-standard.com

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