Infosys has named Ranganath Mavinakere as the new Chief Financial Officer (CFO) and Key Managerial Personnel with effect from 12 October 2015. The company announced that Rajiv Bansal, who is the CFO stepped down and key managerial personnel with effect from 12 October 2015 and even resigned from the company services effective 31 December 2015.
The company said in its filing that, “The 2011 RSU plan has been amended in accordance with the SEBI (share based employee benefits) regulations, 2014 and will be issued as the 2015 Incentive Compensation Plan. The grants made under the 2011 RSU plan will continue to be administered and implemented by the 2015 Incentive Compensation Plan. The 2015 Incentive Compensation Plan will be subject to the approval of shareholders.”
Currently, Mr Mavinakere is the EVP and head of strategic operations and CEO's office. Associated with the company for more than 15 years, he is responsible for risk management, strategic planning, mergers & acquisitions, along with corporate marketing. Mr Mavinakere was the Chief Risk Officer from January 2008 to July 2013.
In addition company announced the approval of 2015 Incentive Compensation Plan as an amendment to the existing 2011 RSU Plan.