New Infosys CEO to Get Annual Salary of $ 5.08 Million


Sikka, 47, who was previously executive board member of German IT firm SAP, will replace S D Shibulal, one of the seven engineers who founded Infosys in 1981, from August 1. Along with Murthy, who upon return from retirement in June last year wanted five years as chairman to turn around the sagging fortunes of Infosys, Executive Vice Chairman S Gopalakrishnan will also step down on June 14.

Since his return, Infosys had seen 11 top-level exits including that of CFO V Balakrishnan, global manufacturing head Ashok Vemuri and President BG Srinivas. Murthy will be replaced by veteran banker KV Kamath as non-executive Chairman of the Infosys board. Infosys, in the circular, said Sikka will be appointed for a five year period ending June 13, 2019. Murthy will be designated chairman emeritus from October 11, the day Kamath will assume the role of non-executive chairman.

Sikka, who quit SAP in May, comes in after four straight years of narrowing margins at Infosys. A Stanford University computer science Ph.D. graduate, Sikka oversaw the development of new products, including a platform for quickly analyzing large databases, as chief technology officer at SAP, the world's largest maker of business-management software.

Infosys stock price On July 02, 2014, Infosys closed at 3218.50, down 3.25, or 0.1 percent. The 52-week high of the share was 3847.20 and the 52-week low was 2392.85. The company's trailing 12-month (TTM) EPS was at 177.52 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 18.13. The latest book value of the company is 733.03 per share. At current value, the price-to-book value of the company is 4.39.

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Source: PTI