MUMBAI Feb 7 The founders of Infosys
Ltd, India's second-biggest software services exporter,
have informed the company's board that they have certain
corporate governance concerns, according to a CNBC-TV18 report
late on Tuesday.
Infosys founders N.R. Narayana Murthy, Kris Gopalakrishnan
and Nandan Nilekani wrote to the company's board last month
raising concerns including the pay hike given to Chief Executive
Vishal Sikka, according to the report.
The three founders also questioned the high severance
package given to two former senior officials, the news channel
In response to CNBC-TV18's queries Infosys said decisions
had been taken in the interest of the company and the board
evaluated with due importance the suggestions received from
stakeholders, including promoters.
Infosys and Murthy declined to comment when contacted by
Reuters, while Nilekani and Gopalakrishnan were not immediately
Former chief financial officer Rajiv Bansal's severance
package amounted to 173.8 million rupees, or 24 month's pay, and
the agreement was "being administered in accordance with the
contractual rights and obligations", Infosys said in a statement
In a January filing with the U.S. market regulator, Infosys,
which is also listed on Nasdaq, said former general counsel
David Kennedy would receive severance payments of $868,250 and
other reimbursements over 12 months.
(Reporting by Sankalp Phartiyal; editing by Susan Thomas)