Fresh row at Infosys as Narayana Murthy slams COO's pay hike

April 03, 2017 08:50

The battle between Infosys founders and the companys management led by its Chief Executive Officer and Managing Director Vishal Sikka is far from over.

After a month's lull, co-founder Narayana Murthy, who has taken on the management over what he says are poor corporate governance standards at Infosys, has fired a fresh salvo.

Murthy has said that the compensation hike to Chief Operating Officer U B Pravin Rao approved by the board in February was not "proper" and "will likely erode the trust and faith of the employees in the management and the board".

"The impact of such a decision (compensation hike) will likely erode the trust and faith of the employees in the management and the board," he said in an email to PTI.

Murthy also said that given the current poor governance standards at Infosys, the targets for variable pay may not be adhered to if the board wants to favor a top management person.

"Finally, given the current poor governance standards at Infosys, let us also remember that these targets for variable pay may not be adhered to if the board wants to favor a top management person," he said.

Murthy has been very vocal about the difference in compensation paid to the top management and the employees and has often lamented that corporate governance standards at the company he founded have slipped.

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