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In a
letter that was released to media, Murthy criticized the steep
rise in Rao's salary.
"Giving nearly 60 percent to 70 percent increase in compensation
for a top level person (even including performance-based
variable pay) when the compensation for most of the employees in
the company was increased by just 6 percent to 8 percent is, in
my opinion, not proper. This is grossly unfair to the majority
of the Infosys employees...," said Murthy in the letter.
"The impact of such a decision will likely erode the trust and
faith of the employees in the management and the board," added
Murthy.
Infosys declined to comment on Murthy's letter when contacted by
Reuters.
According to a stock exchange filing by the company, only 24
percent of promoter shares voted on a resolution seeking a 35
percent rise in Rao's compensation, and they all voted for the
resolution. (http://bit.ly/2nuHy2e)
The company had sought to reassure investors and analysts in
February that it was not being distracted by the dispute with
its founders over how the company was being managed.
The company's founders still own 12.75 percent of Infosys. Led
by Murthy, they had earlier questioned the pay rise granted to
chief executive Vishal Sikka and also the size of severance
payouts given to others, including former finance head Rajiv
Bansal.
(Reporting by Aby Jose Koilparambil in BENGALURU and Sankalp
Phartiyal in MUMBAI; Editing by Muralikumar Anantharaman)
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