<p class="title">In what could be a clear sign of departure from former CEO Vishal Sikka's US-centric policies, Infosys has shifted its Chief Financial Officer M D Ranganath back to India.</p>.<p class="bodytext">The new development comes in the wake of new CEO and MD Salil Parekh taking charge at India's second largest IT services exporter on January 2.</p>.<p class="bodytext">Ranganath also reported at the company's headquarters in Bengaluru on the same day.</p>.<p class="bodytext">"I have moved back to India. It has been almost two weeks, since Salil took over the charge," Ranganath told <span class="italic">DH</span>. </p>.<p class="bodytext">In July 2017, Ranganath was shifted to the US by Sikka in order to be closer to the then CEO and clients. Sikka was based in the US.</p>.<p class="bodytext">Although the company has not made any public announcement in this regard, DH has learnt that as Parekh would be based in India, so is Ranganath.</p>.<p class="bodytext">As per the sources, it was because of the high client concentration in the US that had compelled Infosys to shift its CFO to the US. Around two-thirds of its total revenues for third quarter ended December 31, 2017, came from the US.</p>.<p class="bodytext">According to company sources, Ranganath would, however, be travelling quite frequently to the US. He is also likely to be inducted into the company's board soon, sources revealed. </p>.<p class="bodytext">The company is soon expected to be inducting three more members on its board to take the board strength to 12. </p>.<p class="bodytext">Currently, the company has nine members in the board, including its Non-Executive Chairman Nandan Nilekani, newly appointed CEO and MD Salil Parekh and COO UB Pravin Rao. It has six independent directors -- Rupa Kudva, Punita Kumar-Sinha, Kiran Mazumdar-Shaw, DN Prahlad, D Sundaram and Ravi Venkatesan.</p>.<p class="bodytext">Post his transfer to the US, Ranganath's salary was recaliberated for a fixed pay of Rs 4.44 crore and a variable compensation of up to Rs 3.6 crore, effective July 1, 2017.</p>.<p class="bodytext">According to Infosys' annual report for fiscal year 2016-17, Ranganath received a compensation of Rs 9.24 crore, which included Rs 2.84 crore in fixed pay, Rs 1.80 crore in bonus and incentives and Rs 4.5 crore in performance-based stock incentives in 2016-17.</p>.<p class="bodytext">Nandan Nilkekani was all praise for Ranganath for what he called "smooth buyback process" and also signing of advance pricing agreement (APA).</p>.<p class="bodytext">"I have heard about it (APA) for the first time," Nilekani joked during his media address on Friday.</p>
<p class="title">In what could be a clear sign of departure from former CEO Vishal Sikka's US-centric policies, Infosys has shifted its Chief Financial Officer M D Ranganath back to India.</p>.<p class="bodytext">The new development comes in the wake of new CEO and MD Salil Parekh taking charge at India's second largest IT services exporter on January 2.</p>.<p class="bodytext">Ranganath also reported at the company's headquarters in Bengaluru on the same day.</p>.<p class="bodytext">"I have moved back to India. It has been almost two weeks, since Salil took over the charge," Ranganath told <span class="italic">DH</span>. </p>.<p class="bodytext">In July 2017, Ranganath was shifted to the US by Sikka in order to be closer to the then CEO and clients. Sikka was based in the US.</p>.<p class="bodytext">Although the company has not made any public announcement in this regard, DH has learnt that as Parekh would be based in India, so is Ranganath.</p>.<p class="bodytext">As per the sources, it was because of the high client concentration in the US that had compelled Infosys to shift its CFO to the US. Around two-thirds of its total revenues for third quarter ended December 31, 2017, came from the US.</p>.<p class="bodytext">According to company sources, Ranganath would, however, be travelling quite frequently to the US. He is also likely to be inducted into the company's board soon, sources revealed. </p>.<p class="bodytext">The company is soon expected to be inducting three more members on its board to take the board strength to 12. </p>.<p class="bodytext">Currently, the company has nine members in the board, including its Non-Executive Chairman Nandan Nilekani, newly appointed CEO and MD Salil Parekh and COO UB Pravin Rao. It has six independent directors -- Rupa Kudva, Punita Kumar-Sinha, Kiran Mazumdar-Shaw, DN Prahlad, D Sundaram and Ravi Venkatesan.</p>.<p class="bodytext">Post his transfer to the US, Ranganath's salary was recaliberated for a fixed pay of Rs 4.44 crore and a variable compensation of up to Rs 3.6 crore, effective July 1, 2017.</p>.<p class="bodytext">According to Infosys' annual report for fiscal year 2016-17, Ranganath received a compensation of Rs 9.24 crore, which included Rs 2.84 crore in fixed pay, Rs 1.80 crore in bonus and incentives and Rs 4.5 crore in performance-based stock incentives in 2016-17.</p>.<p class="bodytext">Nandan Nilkekani was all praise for Ranganath for what he called "smooth buyback process" and also signing of advance pricing agreement (APA).</p>.<p class="bodytext">"I have heard about it (APA) for the first time," Nilekani joked during his media address on Friday.</p>