Going through turbulent times, India's second-largest IT giant, Infosys on Friday announced that its new chairman Nandan Nilekeni would not receive any remuneration for the role assigned to him. After Vishal Sikka's abrupt exit from the company, Nandan Nilekeni came back to the Infosys as non-executive and non-independent chairman. Nilekeni currently hold a 0.93% stake in the company. Infosys has set the buyback price at Rs 1,150 apiece and the offer will comprise of 11.30 crore shares aggregating up to 4.92% of the paid-up equity share capital. However, Rao would draw the same salary as he was getting as chief operating officer.

Source: dna September 02, 2017 04:14 UTC