Infosys investors give nod to Sikka as new CEO
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 $5.08 million (Rs.30.5 crore) with stock options (equity shares) valued at $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 $900,000 and an annual variable pay of $4.18 million.
The meeting also endorsed two other resolutions re-appointing K.V. Kamath and R. Seshasayee as independent directors.
(Posted on 30-07-2014)