The price paid by Infosys meant the company was valued six times its revenue, Bansal had told analysts in the earnings call when the deal was announced.
Infosys crisis: Employees fear promotions will be halted, many consider likely impact on their positions
While the employees seem rather disinterested in the larger battle, there was ample heartburn about Sikka’s compensation that amounts to about $11 mn a year.
As of December 31, 2016, the nonexecutive founders (promoter and promoter group) owned 12.8 per cent of the Company’s outstanding shares.
Infosys has been battling concerns that its founders are unhappy with its governance and board and what they consider a violation of ‘core Infosys values.’
Industry experts say the situation is not yet past the point of no return. “The end goal is the promoters, the board and the management should be aligned.
In November, Jesse Cohn, a senior portfolio manager at Elliott, sent a letter to the IT company’s board asking it to shake-up its board, raise its buyback, initiate a dividend to boost its share price and take steps to boost its margin.
The company will also change the composition of its board. Three existing members of Cognizant’s board will not stand for re-election.
Outsourcing industry has seen a steady dip in growth recently. Nasscom has cut it's growth target for fiscal 2017 to 8-10% from 10-12% for the same year.
TechM made the announcement on Friday in a webinar chaired by its Chief Operating Officer L Ravichandran, three TechM employees told ET.
Infosys, which has been facing employee backlash for allowing Rasila Raju OP (the victim) to work alone in the office on a weekend, has been attempting to calm its workforce.
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