Infosys rewards CEO, slashes vesting  period of shares to one year

NEW DELHI: India’s second-largest information technology (IT) services company, Infosys, believes things are back to normal under chief executive Salil Parekh, and it has achieved stability after it was thrown in chaos following the resignation of former boss Vishal Sikka in August 2017.

Infosys has rewarded Parekh by awarding him the right to sell his performance-based shares, a maximum of ₹13 crore in value, every year, rather than the earlier stricture of selling these shares only after three years.

Bengaluru-based Infosys has sought approval from shareholders after the board put its stamp on cutting the vesting period of performance-based shares awarded to Parekh.