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Infosys, the second largest IT firm of the country has extended its chief Vishal Sikka’s tenure by nearly two years till March 2021, mentioning that his initiative have helped the company to move towards reclaiming its industry leadership position.
Infosys has said in a BSE filing that “The company’s nomination and renumeration committee and Board recognised the outstanding initiatives taken by Vishal Sikka towards restoring the company to industry leadership, which have already begun to show results.”
The management, under Sikka’s leadership, has drawn up goals for revenue, margins and people productivity for FY 2020-2021, which is expected to be progressively achieved in the next five years, it added.
It further says, “The Board believes that Sikka’s leadership will be essential to achieve these goals. Hence the Board recommends that Sikka’s present contract of employment be replaced with a new contract that is fully aligned to the period and goals, as well as to shareholder value creation.”
