Infosys Limited has informed the Exchange regarding 'Outcome of Board meeting'.
INFY · price
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The Board approved three key items: (1) Appointment of Nitin Paranjpe as non-executive Vice Chairman of the Board with immediate effect. He brings experience from Hindustan Unilever and Heineken and will support the Chairman in guiding the strategic agenda. (2) Re-classification of Mr. Shreyas Shibulal and Ms. Bhairavi Madhusudhan Shibulal from 'Promoter and Promoter Group' to 'Public' category, subject to shareholder approval. Together they hold approximately 0.56% of equity shares. They stated they have had no involvement in the company's management or decision-making since co-founder S.D. Shibulal stepped down in 2014. (3) Allotment of 35,384 equity shares pursuant to Restricted Stock Units exercise under the 2015 Incentive Compensation Plan, increasing the issued share capital to ₹20,27,82,93,815 divided into 4,05,56,58,763 equity shares of ₹5 each.
The appointment of Nitin Paranjpe as Vice Chairman is a positive signal of board continuity and strengthened leadership. The promoter reclassification reduces the Shibulal family's listed promoter holding from 1.46% to approximately 0.90%, but has no operational impact as these members were never involved in management.