Some of external candidates being considered for the post of CEO include Bhaskar Ghosh of Accenture, Ritesh Idnani of Tech Mahindra, Ravi Kumar S of Infosys, and Nitin Rakesh of Mphasis, among others.
Within six months of joining iGate as CEO, Ashok Vemuri will get a performance bonus of $175,000 (about Rs 1.10 crore) for his strategic initiatives, which helped the US-based outsourcer grow revenues by over 10 per cent in the December quarter.
Wipro said on Thursday that Azim Premji's son Rishad, chief strategy officer and member of the board, will take over as the executive chairman. Azim Premji, however, will continue to serve on the board as non-executive director and founder chairman.
Shares of Infosys today closed at Rs 1,065.35, down 1.95 per cent from the previous close on the BSE.
Eventually it boils down to whether Board compensation committees whose job is to fix salary levels have the power to question the CEO, especially owner-CEOs.
While the definition of what is vulgar is relative, there is little doubt that Board-level compensation committees are given short shrift in India.
IT firm Tech Mahindra on Monday said it will allot 45,000 equity shares under its employee stock option plan.
The "additional remuneration" includes monthly pay of Rs 1 crore, rent free furnished accommodation, medical expenses for him and spouse along with use of chauffeur driven company car for personal use and coverage under personal accident insurance. He will also be entitled to commission between Rs 30-60 lakh as sitting fees for attending meetings of board and committees of the company for each financial year.
Earlier, at the AGM of 2016, shareholders had approved his appointment for a period of three years with effect from February 5, 2017
To get three-year term as non-executive chairman from Feb; firm to create CEO's post; AGM to ratify Sanjiv Puri, Rajiv Tandon's appointment as directors
Liverpool have been told by a tribunal to pay Championship (second-tier) leaders Burnley up to eight million pounds ($11.7 million) for striker Danny Ings.
Anmol, who has a degree from Warwick Business School in the UK, has also been visiting branches and meeting employees across businesses in different regions to get exposure and detailed understanding of businesses at grass-root level in the past two years
FIFA president blasts critics, says salary not decided.
As Deveshwar announces his decision to step down, he has a rich legacy to leave behind.
FIFA's Sepp Blatter may have been banned for eight years from the game but he is still receiving his president's salary from world soccer's governing body, a spokesman for FIFA's Audit and Compliance Committee told Reuters on Monday.
Generally, the central bank grants its approval by mid-March, or latest by March 31, but most banks have not received RBI approval on bonus packages this year.
The company had issued 2.66 million shares to its employees.
News of all that's transpired on and off the football field.
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