Infosys to relocate CFO to the US; revises his salary

BENGALURU: Infosys is relocating its Chief Financial Officer MD Ranganath to the US and has revised his compensation as part of the change, the company said in its results filing to the stock exchange.

“The company has asked, for business reasons, MD Ranganath the CFO to operate from the US,” the company said in the filing. It did not elaborate on the reasons.

Ranganath’s fixed compensation has been revised to $0.69 million along with a variable compensation of upto $0.56 million. Assuming an exchange rate of Rs 65, Ranganath’s fixed pay rises to Rs 4.48 crore. He could be paid another Rs 3.64 crore as variable pay.

In FY17, Ranganath was paid Rs 2.84 crore in fixed pay and Rs 1.80 crore in bonus and incentives, according to Infosys annual report.

Infosys has come under fire before for raising the compensation levels of its top executives, while delaying pay increases for its rank and file.