In a BSE filing today, Infosys, India’s second largest software-service providing firm has stated that Nandan Nilekani, co-founder of Infosys and currently working as non-executive and non-independent chairman will not receive any remuneration for his current post. In the filing, Infosys also mentioned that the office of director will be on the basis of retirement rotation and the company has proposed no remuneration to its co-founder.
Nandan Nilekani was the member of founding team at Infosys in 1981 and he held important positions in the company till July 2009, before he was made the head of UIDAI to initiate the aadhaar project under UPA government.
The BSE filing also gave details about the past remuneration Nilekani received from the company before he left. In the financial year ended March 2010, Nilekani received a total remuneration of 34 lakh. Adding to that, he also holds 2,13,83,480 equity shares of the company. At present market rate of Infosys share, Nandan Nilekani’s net worth remains staggering ₹1967 crores.
The filing also mentioned that the interim CEO UB Pravin Rao, who was working as chief operating officer before, will continue to draw the same salary as his previous role. He was made the interim CEO after Vishal Sikka had put in his papers abruptly, citing personal reasons as well as continuous attacks by the promoters.
UB Pravin Rao was drawing ₹7.8 crores in remuneration (excluding performance based stock options worth ₹4 crores spread over 4 years). Pravin Rao will continue to hold the post of CEO until a replacement is found and approved by the board.