Infosys inducts 12 members in top decision-making body

Written By Unknown on Kamis, 24 Oktober 2013 | 23.25

Oct 24, 2013, 09.08 PM IST

The Executive Council (EC) includes the executive board, heads of key business units and strategic business enabler units. As EC, the appointees will be entitled to an Executive Council allowance of USD 150,000 per annum pro-rata for the period as member.

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Infosys inducts 12 members in top decision-making body

The Executive Council (EC) includes the executive board, heads of key business units and strategic business enabler units. As EC, the appointees will be entitled to an Executive Council allowance of USD 150,000 per annum pro-rata for the period as member.

Like this story, share it with millions of investors on M3

Infosys inducts 12 members in top decision-making body

The Executive Council (EC) includes the executive board, heads of key business units and strategic business enabler units. As EC, the appointees will be entitled to an Executive Council allowance of USD 150,000 per annum pro-rata for the period as member.

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In what can easily be the biggest leadership expansion at Infosys , the company has expanded its executive council by more than double from 16 to 31, reports CNBC-TV18's Kritika Saxena.

In a form 6K filing, Infosys has said that, effective November 1, 2013, 12 senior members have been added to the executive council. As executive council members, new inductees will be entitled to an allowance of USD 150,000 per annum pro rata. As of March 31, 2013, Infosys had 16 members in the executive council, but in August it added three members namely Ranganathan Mavinakere, Binod Hampapur Rangadore and Nithyanandan Radhakrishnan.

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Reason behind the move:

CNBC-TV18 contacted several executives at Infosys who highlighted that the move was to bring newer focus to growth areas, arrest attrition, increase innovation and promote younger leaders.

The new members that have been added include, Dheeshjith VG, Senior VP-growth markets; Eric Paternoster, CEO & President of Infosys Public Services ; Ganesh Gopalakrishnan, Senior VP Information systems; Gautam Thakkur, CEO Of Infosys BPO;  Haragopal Manigipudi, Senior VP & Head of Finacle; Jackie Korhohen, Country head of Australia and new Zealand; Manish Tandon, Senior VP- Insurance ; Ronald Hafner, CEO OF Infosys Lodestone ; Sanjay Jalona, Senior VP manufacturing ; Subu Goparaju, Senior VP, Infosys Labs.


On October 24, 2013, Infosys closed at Rs 3309.85, down Rs 14.3, or 0.43 percent. The 52-week high of the share was Rs 3372.00 and the 52-week low was Rs 2190.00.

The company's trailing 12-month (TTM) EPS was at Rs 159.27 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 20.78. The latest book value of the company is Rs 627.95 per share. At current value, the price-to-book value of the company was 5.27.


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