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Infosys investors give nod to Sikka as new CEO

Posted on Jul 30 2014 | IANS

Bangalore, July 30 : Investors of Infosys Ltd. Wednesday approved a special resolution appointing Vishal Sikka as new chief executive and managing director from Aug 1 at the company's extraordinary general meeting here.

Infosys' outgoing vice chairman and co-founder S. Gopalakrishnan presided over the meeting.

The shareholders also approved Sikka's appointment as a whole-time director on the company's board from June 14, 2014, to June 13, 2019, and its decision to pay him a salary of USD 5.08 million (Rs.30.5 crore) with stock options (equity shares) valued at USD 2 million (Rs.12 crore) per annum.

The 47-year-old former SAP executive board member succeeds Infosys co-founder S.D. Shibulal as the new chief executive.

The compensation includes an annual base salary of USD 900,000 and an annual variable pay of USD 4.18 million.

The meeting also endorsed two other resolutions re-appointing K.V. Kamath and R. Seshasayee as independent directors.

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