Infosys' Top Execs Receives Huge Compensation
Country's second-largest software services provider by revenue, Infosys has outlined that as a result of currency fluctuation, the company's top bosses received an increase in their total salary package.
For the fiscal 2009-10, the company announced a decreased profit of Rs. 5,803 crore compared with Rs. 5,819 crore recorded in the previous year.
There has been emergence of many questions as to why Infosys' top bosses managed to grab a high salary for the fiscal 2009-10 despite the company recording a lower profit compared to the previous fiscal.
According to a media report, Infosys CEO, Kris Gopalakrishnan was quoted revealing that all executive board directors received a pay cut of 35 per cent in their Individual Performance Incentive (IPI) in the previous four quarters.
In addition, he also uncovered that the bonus and incentive of the directors' salaries showed in the annual report 2010 includes variable pay for Q3, Q4 FY09 and Q1, Q2 and Q3 FY10.
Infosys Technologies dismissed the takeover of a large European outsourcing rival like Logica, claiming that the company would instead seek for a smaller, back office and consulting firms in Germany and France that attribute to 10% of the company's revenues or over $500 million in revenues.
