Infosys to pay KV Kamath special fee of Rs 67 lakh

Posted By: Staff
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Infosys to pay KV Kamath special fee of Rs 67 lakh
KV Kamath is likely to be paid around Rs 67 lakh, as an additional fee, soon when he would take charge of his new responsibilities as non-executive chairman, Infosys. The amount compensated is much higher than the total of 30.6 lakh that includes a sitting fee of Rs 10.6 lakh, in ICICI and the fees for being the a board member and holding number of committees such as customer services and fraud.

KV Kamath, the founder of India's second-largest bank, ICICI Bank, would be replacing NR Narayan Murthy, the visionary founder retires in August. KV Kamath was appointed by the nominations committee on April 30, 2011 and would take responsibilities from 21 August .

With the compensation being issued to him, KV Kamath has acquired the status of earning close to a fees of 1.2 crore. The fees would be paid for his role as the non-executive chairman as well as for fulfilling the duties as the director of board.

The fees paid can be reasoned to the ongoing practice of paying the professional high in return of the special knowledge and the experience that they use for the betterment of the institution.

Read more about: infosys, information technology, bse, nse
Story first published: Tuesday, May 31, 2011, 10:18 [IST]
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