Infosys is planning to relocate its Chief Financial Officer, MD Ranganath to the US and has revised his compensation as part of the change. Due to some business reasons the company has asked MD Ranganath the CFO to operate from the US. The company has announced this when it was filing results to the stock exchange but didn’t clearly reveal the actual reason for this shift.
After this decision, Ranganath’s fixed compensation has been revised to ₹4.5 crores along with a variable compensation of ₹3.64 crores. Earlier he was paid ₹2.84 crore as fixed pay and ₹1.80 crore as bonus and incentives, according to Infosys annual report.
This move comes after Infosys had announced that the company plans to hire 10,000 US workers in next two years and open four tech centers in the US, starting with a center in August in Indiana. The 10,000 new U.S. jobs will form a small part of Infosys’ overall workforce of over 200,000.