India’s second largest software exporter Infosys has extended the tenure of chief executive officer & Managing Director Vishal Sikka by another two years till the year 2021. Sikka was earlier appointed as MD & CEO till 2019. Official stating that his initiatives have helped the company to grow towards leadership position.
Mr. Sikka was the first non-founder who was appointed as the CEO and Managing Director of the company. Under the leadership of Sikka, Infosys started delivering industry leading growth in the last couple of quarters. Since he assumed office in August 2014 Mr Sikka has taken various measures to fuel growth. Some of the major measure includes leadership changes, employee retention measures, forming corporate venture fund.
The Infosys which was conservative on the acquisition front also became aggressive and acquired Panaya and Skava for $200 million and $120 million respectively. It added that the management, under Sikkas leadership, has drawn up goals for revenue, margins and people productivity for FY 2020-2021, which is expected to be progressively achieved in the next five years. The board believes that Dr. Sikka’s leadership will be essential to achieve these goals, according to the filing.
The Board has reduced the term of his existing contract to December 31, 2016 from June 13, 2019. Also, Infosys will execute a new executive employment agreement with Sikka for his re-appointment as the MD and CEO with effect from April 1, 2016 until March 31, 2021 to reflect certain changes in his compensation.
Infosys Limited (formerly Infosys Technologies Limited) is an Indian multinational corporation that provides business consulting, information technology, software engineering and outsourcing services. It is headquartered in Bangalore, Karnataka.
Extra Info :
Infosys Founder : Narayan Murthy & Nandan Nilekani
Founded In : 1981
It is sixth largest publicly traded company in India
So lets discuss some questions related to this article which can be asked in the upcoming exams :
1. Headquarter of Infosys is located in which city ?
2. Who is the CEO & MD of Infosys ?
3. Infosys has extended Vishal Sikka’s term by how many year ?
Courtesy : The Hindu