BANGALORE, 15 JUNE: Infosys shareholders today welcomed the re-appointment of the company’s co-founder Mr NR Narayana Murthy as executive chairman, but expressed disappointment over the firm’s performance.
Worried over falling profits, the shareholders raised concerns over rising attrition rate and the company losing focus to make profit as some of the other IT companies were doing.
At the 32nd annual general meeting here, Mr K Narayan, a shareholder, was critical of the company’s “failure” to identify an eligible candidate to be appointed as executive chairman but forced the return of Mr Murthy who was planning a peaceful retired life.
He said Infosys was paying more salary to their employees compared to some other leading software companies. “You have raised the salaries but are the employees delivering. Infosys should bring down its cost on employees to make profits.”
Mr CN Gopalakrishnan, another investor, said Infosys was not making enough acquisition to strengthen its business despite having huge liquid assets. pti