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Infosys CEO Parekh to get Rs 16.25 cr as annual salary

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Bengaluru, Jan 4 (IANS) Global software major Infosys will pay its new Chief Executive Officer and Managing Director Salil S. Parekh a whopping Rs 16.25 crore salary per annum, said the IT major on Thursday.

In a regulatory filing on the BSE, the company said in addition to Rs 6.5 crore fixed pay and Rs 9.75 crore variable pay, Parekh would get restricted stock units (RSUs) equivalent to Rs 3.25 crore and performance equity grant worth Rs 13 crore, taking the annual package to Rs 32.5 crore for five years from January 2, 2018 to January 1, 2023.

“The compensation for Parekh is subject to approval of shareholders through postal ballot and electronic voting by February 20,” said the filing.

The company’s Board has appointed its Company Secretary Parameshwar G. Hegde as the scrutiniser for conducting the postal ballot.

–IANS
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Vivo grabs 2nd spot in India smartphone market for 1st time

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New Delhi: Chinese smartphone maker Vivo created history by grabbing the second spot in the Indian smartphone market for the first time in the fourth quarter of the calendar year 2019.

Vivo captured 21 per cent market share to reach the second spot as Samsung slipped to third place with 19 per cent market share. Xiaomi was at No 1 position with 27 per cent share in Q4 2019, according to Counterpoint Research.

OPPO and Realme were other players in the top 5 list, with 12 per cent and 8 per cent market share, respectively.

Vivo grew 76 per cent (year-on-year) in the full year 2019Aand 134 per cent YoY in Q4 2019, driven by good performance of its budget segment series.

“Also, by successfully pivoting to online and aggressively positioning the S series in the offline segment with new features, it managed to make a dent in the Rs 15,000 Rs 20,000 segment,” said Tarun Pathak, Associate Director, Counterpoint.

Due to this, Vivo captured the second spot for the first time in India’s smartphone market.

According to Nipun Marya, Director-Brand Strategy, Vivo India, the goal of the company is not only to launch new devices, but also provide customers better after-sales service experience, which is the key motto of the company.

“We are deeply focused on bringing new innovations to stay ahead in the smartphone segment,” Marya told IANS.

“My aim is to give world-class after sales service to my consumers. I also thank them for maintaining their trust in the brand,” he added.

Over the past four years, Vivo has grown 24 times in the Indian market.

Vivo has presence in over 70,000 retail outlets across the country.

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