Bangalore, July 30 IANS | 4 months ago

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)

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