11. INFY Corporate Governance

8/9/2019 11. INFY Corporate Governance

1/17

n osysCorporate Governance

ModelCase of Sacking CFO ForCode of Conduct Violation


2/17

INTRODUCTION• Infosys is a global leader in consulting,

technology, and outsourcing solutions.

• As a proven partner focused on buildingtomorrow's enterprise, Infosys enables clients inmore than 50 countries to outperform thecompetition and stay ahead of the innovation

curve.

• With !5,000" employees, it provides enterprises with strategic insights on what lies ahead.


3/17

• #hey help enterprises transform and thrive in a

changing world through strategic consulting,operational leadership, and the co$creation of brea%through solutions, including those in mobility,sustainability, big data, and cloud computing.

• &At Infosys, we believe our responsibilities etend beyond business. #hat is why we established theInfosys (oundation ) to provide assistance to some of

the more socially and economically depressed sectorsof the communities in which we wor%. And that is why we behave ethically and honestly in all ourinteractions ) with our clients, our partners and ouremployees.*


4/17

Subsidiaries:

• Infosys +odestone -urich

• Infosys #echnologies Australia /ty. +imited

• Infosys /1 +imited• Infosys #ecnologia do rasil +tda

• Infosys #echnologies 2hina 2o. +imited

• Infosys #echnologies 3hanghai 2o. +imited

• Infosys #echnologies• Infosys /ublic 3ervices Inc


5/17

• Infosys Lodestone (Zurich) #he global consultingfirm advises international companies on strategy and

process optimi4ation as well as I# transformation.

• Infosys Technologies (Australia) Pty. Limited We provide epertise to some of the world's maor

ban%s and enterprises to ensure their applications meetthe highest standards of regulatory compliance,

governance and security.

• Infosys Tecnologia do Brasil Ltda 1ur mission isto be a respected ra4ilian corporation that provides best$of$breed business solutions, leveraging technologyand global infrastructure, delivered by best$in$class

people co$sourced from ra4il.


6/17

Infosys BPO

• Infosys /1 +td., the business process outsourcingsubsidiary of Infosys +td was set up in April 6006.

• Infosys /1 focuses on integrated end$to$end

outsourcing and delivers transformational benefitsto its clients through reduced costs, ongoingproductivity improvements, and processreengineering.

• Infosys /1 operates in India, /oland, the 24ech7epublic, the 8etherlands, 3outh Africa, ra4il,9eico, 2osta 7ica, the :nited 3tates, /uerto 7ico,2hina, the /hilippines and Australia, and as of

9arch ;, 60


7/17

• >ision

"We will be a globally respected corporation.“

• 9ission

"Strategic Partnerships for Building Tomorrow’s

Enterprise."

Infosys BPO


8/17

The alues that drie !nfosys BP underscore commitment to#

• Client Value: #o surpass client epectations consistently

• Leadershi !y "#amle: #o set standards in our businessand transactions and be an eemplar for the industry andourselves

• Integrity and Transarency: #o be ethical, sincere andopen in all our transactions

• $airness: #o be obective and transaction$oriented, andthereby earn trust and respect

• "#cellence: #o strive relentlessly, constantly improveourselves, our teams, our services and products to become the

best

Infosys BPO


9/17

Management Profiles

%ame &esignation Anup :ppadhayay 2hief ?ecutive 1fficer and

9anaging @irector, Infosys /1

@eepa% halla 2hief (inancial 1fficer, Infosys /1

7aghavendra >ice /resident and Bead $ Buman

7esource @evelopment, Infosys /1

Anantha 7adha%rishnan 3enior >ice /resident and ClobalBead of ?nterprise 3ervices,usiness #ransformation and#echnology 3ervices, Infosys /1

>ive% 3harma >ice /resident and Bead $ Clobal3ales and 9ar%eting, Infosys /1

Anup apoor >ice /resident and Bead $ 3trategicusiness :nits, Infosys /1

apil Dain >ice /resident and Bead $ 3trategic

usiness :nits, Infosys /1


10/17


11/17

Six more to besacked at Infosys

BPO

• At least si employees at one ofInfosys /1's ?uropeansubsidiaries will be as%ed toleave soon after internalinvestigations revealed thatthey had produced inflatedinvoices and purportedly

overbilled Apple for manymonths.

• FApple for long has beendebating on engaging withIndian outsourcers and thisincident will certainly not go

down well,F said /radeep9u%heri, president of Avasant. FApple may even want to reconsider itsengagement with Infosys/1.F

8ov 60th 60< #he ?conomic#imes


12/17

Overbilling

• 1verbilling is the practice of charging more than islegally or ethically acceptable on an invoice or bill.

• Is an eample of breach of contract and result infines, lawsuits, or prison time.

• 1verbilling schemes differ from false billing

schemes.


13/17

Context to Infosys Case:

Over!"arging #$$le In! for IT su$$ort

servi!es

• #he irregularities in Infosys /1's dealings with Applecame out during an internal audit.

• ?ecutives misstated hours of wor% put in by agents, whooffer basic to moderately comple supportto Apple customers on Apple products.

• #his was then wrongly billed to Apple, which is reported tohave paid Infosys /1.


14/17

• Bead of finance of Infosys /1 should have ta%en actionagainst the eecutives who were overbilling, but they wereloo%ing for incentives.

• Infosys wrote bac% the credit to the client Apple.

• While transaction Guantum could not independently confirm

but Infosys has said it was Ffinancially insignificantF.

• #he case of overbilling of its marGuee client, Apple, was limitedto one facility in 24ech 7epublic.

Context to Infosys Case:

Over!"arging #$$le In! for IT su$$ort

servi!es


15/17

Cor$orate %overnan!e

• At Infosys, the goal of corporate governance is toensure fairness for every sta%eholder )customers, investors, vendor$partners, thecommunity, and the governments of thecountries of operation

• Always see% to ensure that performance is driven by integrity.


16/17

Cor$orate %overnan!e P"iloso$"y

Infosys corporate governance philosophy is based on the following principles:

• 3atisfying the spirit of the law and not ust the letter of the law

• Coing beyond the law in upholding corporate governance standards

•9aintaining transparency and a high degree of disclosure levels• 9a%ing a clear distinction between personal convenience and corporateresources

• 2ommunicating eternally in a truthful manner about how the company isrun internally

• 2omplying with the laws in all the countries in which the company operates

• Baving a simple and transparent corporate structure driven solely by business needs

• ?mbracing a trusteeship model in which the management is the trustee ofthe shareholders' capital and not the owner

• @riving the business on the basis of the belief, 'when in doubt, disclose'


17/17

TN' (OU)

11. INFY Corporate Governance

Documents

Transcript of 11. INFY Corporate Governance