Infosys is the third-largest Indian-based IT services company and provides business consulting, technology, engineering and outsourcing services globally. It targets businesses specialising in insurance, banking, telecommunications and manufacturing.
In light of poor performance in 2011, the company appointed its former chair and co-founder as interim chair in 2013. With support from employees and shareholders, a new CEO was appointed in 2014. Two years later, however, the increase in the CEO’s remuneration caused concerns among shareholders. We immediately pressured the company to improve the disclosure on its remuneration, which was validated by a proxy advisory company shortly after. However, we acknowledge that global technology companies and technology service providers have lagged other sectors in terms of remuneration disclosure, particularly in relation to performance-linked pay.