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Challenges present opportunity for Infosys to gain market share: Nandan Nilekani

Addressing shareholders at the company’s 41st Annual General Meeting, the company's chairman said Infosys has been recognised as the fastest-growing IT services brand and that digital acceleration is opening doors for it.

June 25, 2022 / 20:10 IST
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Nilekani, in his Chairman’s address, stressed on the company’s One Infosys Approach, saying it helped the company deliver its fastest growth in a decade.

Challenges such as slowing growth, supply chain disruptions, soaring inflation, rapidly rising interest rates, and fears of a recession present an opportunity to transition to new ways to gain market share, Infosys Chairman Nandan Nilekani said on June 25.

Addressing shareholders at the company’s 41st Annual General Meeting, Nilekani said, corporate leaders are having to deal with challenges in a post-pandemic world, and along with the above challenges, there is potential to help them.

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The AGM’s agenda — along with approving of financial statements — also included the reappointment of CEO Salil Parekh and the approval of his new compensation. Salil Parekh’s proposed compensation, for his second term till March 2027, is Rs 79.75 crore annually, up 88 percent from FY22. Shareholders approved his salary hike, making him one of the highest-paid executives in the industry.

Nilekani, in his Chairman’s address, stressed on the company’s One Infosys Approach, saying it helped the company deliver its fastest growth in a decade. He cited CEO Salil Parekh as the driver for the same, saying he not only pushed for it but also stressed it as the company’s core differentiation. “It amplified our relevance to their [clients] agenda and gave them more reason to trust us to deliver at a time when their businesses sought every digital advantage they could muster to tide through the trying times.”