Infosys Response To Misrepresentation Of Senior Management Compensation In Recent Media Reports
Bangalore, India - May 15, 2012: The recent report that talks about Infosys management compensation for fiscal year 2012 deliberately uses facts out of context to present a picture that is inaccurate and misleading.
The report makes it seem as if senior management compensation for the company went up by 52%. But that is almost entirely due to the addition of 6 new members to the Executive Council. A greater number of Executive Council members accounted for the majority of the increase in aggregate management compensation.
The senior management team is the first to get negatively affected if the company does not meet its expected growth numbers. Most of the executives, who were with the company for the year ending March 2012, have either seen their total compensation go down or at most received a single digit increase. In the same period deserving employees in India received double digit percentage salary increases.
Also, the reported compensation data is part of our statutory financial filings. It pertains to last year, that is, fiscal year 2012 and how it compared with the fiscal year 2011. Salary hikes have been postponed for fiscal 2013 for the Infosys senior management just like the rest of the organization. Infosys leadership has always led by example and will continue to do so. Reports implying otherwise are merely attempts at creating sensational headlines out of partial truths.