Parekh had said that the he would outline the strategic plans for the company in April and would hold an analyst day to share the plan with investors.
Murthy, who has been with Infosys for over 25 years, is leaving for ‘personal reasons’ the company said. His last day at Infosys will be at the end of the January.
India’s largest software exporter reported a net profit of $1.01 billion on revenue of $4.78 billion for the quarter ended December.
Epic had filed the law suit against TCS in 2014 alleging that the company had stolen its intellectual property.
Core supplier services will transfer directly to TCS and the day-to-day relationship and project management of specialist suppliers will move under the control of TCS.
Services based on new technologies account for over half of its revenue. For most of the Indian IT companies digital contributes between 20% and 25% of revenue.
A result of the slowness in banking and retail means Indian IT companies will also face slower growth in North America, their largest market.
Parekh — with fixed salary of Rs 6.5 cr and variable pay of Rs 9.75 cr — gets a package that is considerably smaller than the Rs 70.4 cr pay package for Sikka.
Nasscom’s Chandrasekhar said the move was just the latest in a series of steps that the US government was taking, though this one would likely have a significant impact.
Under the terms of the agreement, approximately 3.58 million of the shares to be repurchased will be received by Cognizant on December 14, 2017.
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