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Narayana Murthy, the co-founder of Infosys and one of India's most respected business leaders, celebrates his 78th birthday today. Also known as the "Father of the Indian IT sector", his contributions to the IT industry are unparalleled. 

Narayana Murthy was born on August 20, 1946, in Sidlaghatta, Karnataka, and belonged to a middle-class Hindu family. With a degree in electrical engineering from the National Institute of Engineering and a Master's degree from IIT, Kanpur, he also received an honorary degree from Lancaster University. Murthy's early career saw him working in various technology roles, including a stint in Paris where he developed a deeper understanding of the global tech landscape. 

With a net worth of 510 crores USD, he is a pioneer for millions of Indians who wish to achieve success in the IT Sector. His journey of bringing Infosys from a small start-up he started with ₹10,000 in Pune to now being the second largest IT company in India is commendable. Infosys has increased in revenues from $40,000 in 1982 to $6.99 billion in 2012, with an employee base of 150,000. 

He is married to noted author and philanthropist, Sudha Murthy, and has two children, Rohan and Akshata. Along with his wife Sudha, Narayana Murthy has been involved in various philanthropic activities. The couple, through the Infosys Foundation, has contributed to numerous social causes, including healthcare, education, and rural development in India.

Narayana Murthy has been awarded several civil and humanitarian honors, like the Padma Shri (2000), Honorary Commander of the Order of the British Empire (2007), Legion of Honour (2008), and Padma Vibhushan in 2008.

It was not long ago, Murthy made headlines with his interview for a special podcast, with former Infosys HR director and board member TV Mohandas Pai. Murthy pointed out that India's productivity is one of the lowest in the world and to improve it, the youth must shoulder the responsibility for the nation's progress. "Therefore, my request is that our youngsters must say, This is my country; I'd like to work 70 hours a week," he stated.

He drew comparisons between Japan and Germany, who have extended working hours implemented. Also, for his comments, he received a lot of flak as well as appreciation from other celebrated individuals. Supporters of Murthy, however, argued that his comments were intended to inspire a strong work ethic and a sense of national duty, rather than to impose unreasonable demands. They cited Murthy's own career as a testament to the value of hard work, discipline, and dedication.

As Narayana Murthy enters his 78th year, his influence on India's corporate landscape remains undeniable. While the debate over work culture continues, his legacy as a pioneer who put Indian IT on the global map is secure. His life's achievements and work serves as an enduring reminder of the impact that vision, ethics, and perseverance can have on a nation.

Narayana Murthy turns 78: Celebrating the visionary behind Infosys

The average Chief Executive Officer (CEO) compensation stands at Rs 13.8 crore a year, up 40 percent compared with pre-COVID-19 levels, revealed the Deloitte India Executive Performance and Rewards Survey 2024.

Every second CEO had a target compensation of more than Rs 10 crore in 2024, compared with every third CEO in 2020. CEOs who were also promoters or members of the promoter family are paid Rs 16.7 crore on average. Over the past four years, the ratio of promoter to professional CEO compensation increased significantly from 1.0 to 1.3, as per a Moneycontrol report.

To be sure, Promoter CEO compensation outpacing professional CEO compensation is primarily driven by two factors. “Professional CEOs change more often than promoter CEOs due to the longer tenure of promoter CEOs as an aggregate. But it is also important to note that the range of promoter CEO compensation is very wide, and that affects the higher averages,” Dinkar Pawan, Director of Deloitte India, told Moneycontrol.

An analysis of CEO changes in BSE 200 companies (excluding PSUs) revealed that 45 percent of companies witnessed a CEO change over the past five years. Six of every 10 new CEOs are homegrown (internally appointed). The remaining four CEOs were external hires.

While CEO compensation has increased, more than 50 percent of target compensation is pay-at-risk. For professional CEOs, pay-at-risk at 57 percent is much higher than for promoter CEOs at 47 percent. Professional CEOs have 25 percent of their target compensation delivered through long-term incentives, which for most companies, is paid through share-linked incentives. COOs and CFOs continue to command the highest compensation premiums in India amongst the other CXOs.

For these two roles, 44 percent of target compensation is at-risk, with almost half of it being driven through long-term incentives.

On an average, CEOs of over Rs 20,000 crore revenue responsibility make Rs 20 crore per annum. Further, the CEO compensation has risen the fastest in technology and lowest in the financial services and consumer sectors.

While assessing CEO and CXO performance, most companies use a holistic scorecard that includes a mix of financial and non-financial metrics and targets. However, incentives for CEOs and CXOs are still tilted towards financial company-level goals within those scorecards.

Additionally, companies are transitioning towards a more structured approach to bonus payouts, and the role of discretion in compensation decision-making is on the decline. With respect to long-term incentives, the report mentions two broad trends: The percentage of companies using share-based incentives continues to increase (75 percent in 2024 vs 63 percent in 2020); and the prevalence of stock options, or ESOPs, continues to decrease (49 percent of companies in 2024 vs 68 percent of companies in 2020).



Average CEO compensation stands at Rs 13.8 crore a year: Deloitte Report

FMCG companies across the board are feeling the pressures of inflationary trends. Nestle, the maker of major iconic brands like Maggi and Nescafe, is no different. In an exclusive conversation with Storyboard18’s Delshad Irani, Nestle India’s chairman and managing director, Suresh Narayanan, tells us how the company is sustaining all the momentum in consumption that came during the pandemic for flagship brands like Maggi. He sheds light on the challenges of meeting customer expectations as prices go up, on the D2C trend and the shift toward healthier living and new opportunities in the healthy-aging segment. Plus, on a lighter note, he tells us why he is one of the most responsive CEOs on LinkedIn.
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