Better engagement with shareholders on agenda at Infosys meet

The three-day annual strategy meeting at the software major's Mysore campus is generally dedicated to charting out a business blueprint, but recent friction between the founders and the management will also need to be addressed.

March 08, 2017 / 14:52 IST

An employee is seen behind an Infosys logo at the company's campus in the southern Indian city of Bangalore September 23, 2014. Infosys Ltd's new CEO Vishal Sikka has come up with a novel approach to reviving the financial fortunes of India's trailblazing outsourcing firm: use Facebook at work, tweet, but get the job done. Infosys has long been run as a conservative company known for keeping strict tabs on work hours and sometimes fining employees for not wearing ties on specific days. Such cheerless self-regard could not have come at a more challenging time, analysts say. To retain talent, Sikka hopes to create a more employee-friendly workplace. To match story INFOSYS-CEO/STRATEGY REUTERS/Abhishek Chinnappa (INDIA - Tags: BUSINESS SCIENCE TECHNOLOGY EMPLOYMENT) - RTR47FIS

With recent strife at the company in the backdrop, better engagement with shareholders was on the agenda as the Infosys leadership gathered on Wednesday for their three-day annual strategy meeting at the software major's Mysore campus.

The forum is generally dedicated to charting out a business blueprint, but the friction between the founders and the management that played out publicly last month before a ceasefire was called will also need to be addressed.

In a letter to the board at the end of January, the company's co-founders including former chief executive NR Narayana Murthy had raised issues related to corporate governance at the company, including CEO Vishal Sikka's high salary and the hefty severance pay to two former executives. The board had said it would consult all stakeholders going forward.

At the Mysore meet, the leadership will discuss their growth plan for the next financial year and fix targets for the same. The outcome will likely be discussed when the company's reveals its fourth quarter results in the next couple of months.

Apart from the in-house trouble, Infosys is also facing global headwinds as the IT sector prepares for curbs on H1B visas in the US amid a growth-challenged environment.

The leadership may also discuss a share buyback, with speculation doing the rounds that it will be announced next month.