Infosys co-chairman Ravi Venkatesan today claimed that the relationship between the company's board and the founders is good and it will further improve.
Infosys co-chairman Ravi Venkatesan today claimed that the relationship between the company's board and the founders is good and it will further improve.
Over the past few months, the Bengaluru-based tech giant has been receiving flak from some of the founders and former employees over alleged governance lapses and high compensation doled out to key executives.
"I believe the relationship between the board and the founders is good and I am confident that it will continue to improve," he said on the sidelines of the 36th AGM of Infosys here.
The founders, including N R Narayana Murthy, have also been vocal about the high compensation paid to CEO Vishal Sikka and COO U B Pravin Rao and have questioned the severance package paid to former CFO Rajiv Bansal and general counsel David Kennedy.
Due to these issues, there have been a trust deficit between the board and promoters and between the top management and employees.
Infosys CEO Vishal Sikka has set up an ambitious target for Infosys reaching USD 20 billion revenue by 2020 with a strong focus on new technologies.
Venkatesan said the company is working on evaluating the USD 20 billion by 2020 target and hopes to communicate it very soon.
Venkatesan, however, had said recently that the target does not look like to be achievable by 2020.
"The (numbers) seem achievable. The time-frame to achieve that is a different thing. Realistically, it does not look like they will be achievable by 2020," he had said.
Infosys crossed USD 10 billion in revenue at the end of fiscal 2017.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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