Valid objection, bad timing

Concerns over the Infosys CxO pay hikes are justified

Infosys founder N R Narayana Murthy’s second salvo in two months against the company’s predilection for generously rewarding its top management holds a significant message for India Inc. This time, Mr Murthy, whose pay and lifestyle in his heyday at Infosys attracted attention for their relatively ascetic quality, has raised concerns about the compensation to the company’s chief operating officer, Pravin Rao. Shareholders approved a hefty 35 per cent increase of Mr Rao’s annual salary to Rs 8.5 crore — which Mr Murthy says works out to a 60-70 per cent increase (if variable pay is included) as against a