Infosys appoints Bobby Parikh as an Independent Director

Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting today announced the appointment of Bobby Parikh as an Independent Director of the Company, effective July 15, 2020, based on the recommendations of the Nomination and Remuneration Committee of the Board. The appointment is for a period of three years and is subject to the approval of shareholders.

Mr. Bobby Parikh is the Managing Partner of Bobby Parikh Associates, a boutique firm focused on providing strategic tax and regulatory advisory services. Mr. Parikh's particular area of focus is providing tax and regulatory advice in relation to transactions and other forms of business reorganizations, whether inbound, outbound or wholly domestic. In this regard, Mr. Parikh works extensively with private equity funds, other institutional investors and owners and managers of businesses to develop bespoke solutions that optimally address the commercial objectives underpinning a particular transaction or a business reorganization. Mr. Parikh also works closely with regulators and policy formulators, in providing inputs to aid in the development of new regulations and policies, and in assessing the implications and efficacy of these and providing feedback for action. Mr. Parikh is former Chief Executive Officer of Ernst & Young in India and held that responsibility until December 2003. Mr. Parikh is a graduate in Commerce from the University of Mumbai and qualified as a Chartered Accountant from the Indian Institute of Chartered Accountants of India in 1987.

Welcoming Mr. Parikh to the Board, Kiran Mazumdar-Shaw, Lead Independent Director and Chairperson of the Nomination and Remuneration Committee said, "Bobby Parikh is a well-respected business leader who brings a wealth of experience and financial acumen to the Infosys Board. His vast experience in the realm of corporate governance will greatly benefit the Company."

Shares of INFOSYS LTD. was last trading in BSE at Rs.831.45 as compared to the previous close of Rs. 783.2. The total number of shares traded during the day was 1272970 in over 30111 trades.

The stock hit an intraday high of Rs. 848 and intraday low of 795.35. The net turnover during the day was Rs. 1056949561.

Source : Equity Bulls

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