Nandan Nilekani will not draw any salary as Infosys chairman

TIL Desk/Business/Bengaluru/ India’s second largest IT services firm Infosys has said that incumbent non-executive and non- independent chairman Nandan Nilekani will not receive any remuneration for his current post.

In a BSE filing, the company said Nilekani’s office as director shall be subject to retirement by rotation and the remuneration proposed to be paid to him is nil.

Nilekani was first appointed to the board in 1981 and ceased to be its member on July 9, 2009, Infosys said.

His last drawn remuneration for the fiscal 2010 in which he ceased to be a director was Rs 34 lakh, it said, adding that Nilekani holds 2,13,83,480 equity shares in the company.

U B Pravin Rao, the interim CEO of the company and who holds 5,55,520 shares, will get the same salary he was drawing as chief operating officer.

Rao was elevated as the interim CEO and managing director after Vishal Sikka had quit from CEO’s post on August 18, citing “continuous attack” from the founders and distractions.