IT major Infosys on Wednesday defended pay hike to chief executive Vishal Sikka and the severance package of two former senior executives saying all decisions were made "in the overall interest of the company", amid reports of simmering differences between the CEO and its founders. Shares of the company dived 1 per cent on BSE on Wednesday.
The Bengaluru-based firm said it has made "full disclosures" on all developments.
"With regard to concerns on governance... we would like to reiterate that all decisions have been made bona fide, in the overall interest of the
company, and that full disclosures have already been made thereon," Infosys said in an emailed statement.
The reports said Infosys founders N R Narayana Murthy, Kris Gopalakrishnan and Nandan Nilekani had written to the board last month
expressing their concerns over pay hike to chief executive Vishal Sikka, and the severance package offered to two senior executives. Infosys founders, along with their family members, owned 12.75 per cent in the company at the end of December 2016, as per the data available on the BSE.
"The Board receives suggestions and inputs from various stakeholders, including promoters, which are evaluated with due importance. The company will continue to be guided by the overall interests of all stakeholders," Infosys said in its response.