Infosys gave over Rs 14 crore in compensation to 4 senior executives

Infosys has handed out more than Rs 14 crore in compensation to its four senior executives, thanks to stock-based incentives.

The stock incentives shot up the total compensation of presidents Rajesh Murthy, Sandeep Dadlani and Mohit Joshi, and deputy chief operating officer Ravi Kumar S by over 50% in the previous fiscal year.

As per the annual report of Infosys, the increase was mainly in the form of performance-based stock incentives that will vest over four years.

The news comes after the tussle between Infosys founders and the board members over the pay packages is yet to be resolved.

Infosys founder NR Narayana Murthy had expressed displeasure over the steep hike in compensation to chief operating officer UB Pravin Rao.

In fiscal 2017, Rao's total compensation rose to Rs 11.80 crore from Rs 8.14 crore, including incentives.

Also, last year, Infosys shareholders had questioned the pay hike given to CEO Vishal Sikka.

Infosys has been battling a slew of issues - including questions on governance standards and slowing industry growth.

Meanwhile, Infosys has also formed a 'committee of directors', which includes co-chairmen R Seshasayee and Ravi Venkatesan as well as board member DN Prahlad, that will support and advise the management in executing the company's strategy.