Salil Parekh, the new CEO of Infosys, Friday
announced plans to put subsidiaries Skava and Panaya
on sale while reporting the company's fourth quarter
earnings. The acquisitions were done under predecessor and first
non-co-founder CEO of the company, Vishal Sikka.
The Panaya deal had put the company in the eye of a storm
last year when founders started questioning corporate governance practices
pertaining to the deal. Sikka stepped down in August and Parekh, a
veteran of French IT company Capgemini, took over the reins.
Infosys, India’s second largest information
technology company, reported a 28 percent sequential fall in net profit to Rs
3,690 crore in the Q4FY18, in line with analysts' expectations.
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