Infosys Limited announced key corporate governance developments following its Board meeting held on April 30, 2026. The technology services giant approved significant leadership changes and promoter reclassification requests that reflect the company's evolving corporate structure.

Leadership Appointment

The Board approved the appointment of Nitin Paranjpe as non-executive Vice Chairman with immediate effect, based on recommendations from the Nomination and Remuneration Committee. This appointment recognizes Paranjpe's valuable contributions to the Board and his extensive leadership experience.

Nandan Nilekani, Chairman of the Board, expressed satisfaction with the appointment, stating that Paranjpe's expertise has already made a significant impact on the Board. Nilekani confirmed his continued role as Chairman with no planned transition.

Promoter Reclassification

The Board approved a significant reclassification request from Mr. Shreyas Shibulal and Ms. Bhairavi Madhusudhan Shibulal to move from 'Promoter and Promoter Group' category to 'Public' category under Regulation 31A of SEBI LODR Regulations.

The applicants' classification as promoter group members was solely due to their relationship with Mr. S. D. Shibulal, who was actively involved in the company until 2014. The Board noted that it has been approximately 12 years since Mr. S. D. Shibulal ceased active association with the company, and the applicants are settled outside India, engaged in independent professions without any connection to company operations.

Share Capital Changes

The Board approved allotment of equity shares under the employee compensation program, resulting in an increase in the company's issued share capital.

Corporate Governance Impact

The Board determined that the promoter reclassification will not impact company operations, Board composition, management structure, or shareholders. The applicants confirmed they satisfy all conditions under Regulation 31A(3)(b) of LODR Regulations, including:

• No control over company affairs
• No special rights through formal or informal arrangements
• No Board representation or key managerial positions
• Holdings below regulatory thresholds

The Board meeting commenced at 6:00 p.m. IST and concluded at 6:45 p.m. IST on April 30, 2026. These developments reflect Infosys's commitment to maintaining robust corporate governance standards while adapting its leadership structure to support strategic objectives.

Infosys has achieved significant recognition in the European financial services market, securing the top position as IT services provider for Banking in Europe and Financial Services in the Nordics according to Whitelane Research studies. The global leader in AI-first business consulting and technology services announced these achievements on April 30, 2026, highlighting its strong performance across multiple categories in the competitive IT services landscape.

Key Rankings and Recognition

The Whitelane Research studies positioned Infosys at the forefront of IT services providers across several critical categories:

Infosys achieved an 83% score in general satisfaction among IT service providers serving the European Banking industry, representing a three percentage point improvement over the 2024/2025 period that led to the top ranking.

Study Methodology and Scope

The Whitelane Research studies provide comprehensive insights into IT sourcing performance across the financial services sector. The 2025/2026 Financial Services Europe study surveyed close to 600 participants from Europe's top IT spending financial services organizations, evaluating over 1,500 unique IT sourcing relationships. The evaluation criteria included:

• Service delivery quality
• Account management effectiveness
• Pricing competitiveness
• Innovation capabilities
• Transformation expertise

Similarly, the Nordics 2026 study gathered insights from over 450 participants across leading IT-spending organizations, assessing over 1,000 unique IT sourcing relationships based on service delivery, account management, value for money, and security.

Technology Leadership and Differentiation

The recognition underscores Infosys' AI-first approach in enabling financial institutions to modernize operations, improve decision-making, and elevate customer experience. Through Infosys Topaz, an AI-first offering using generative and agentic AI technologies, the company helps global enterprises unlock AI value at scale while ensuring responsible and scalable adoption.

Infosys also demonstrated leadership in cloud services through Infosys Cobalt, a comprehensive suite of services, solutions, and platforms designed to accelerate enterprise cloud adoption. This contributed to its top three positioning in Cloud & Infrastructure Services, highlighting expertise in Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) offerings.

Industry Expert Commentary

Alex van den Bergh, Head of Research, Europe at Whitelane Research, emphasized that the studies highlight how service providers are responding to rising client expectations around quality, transformation, and cloud-led modernization. He noted that Infosys stands out for its consistent delivery, strong client engagement, and ability to support financial institutions through complex changes.

Jay Nair, EVP and Industry Head, Financial Services at Infosys, expressed pride in the recognition from both Whitelane Research and clients across Europe and the Nordics financial services industry. He highlighted the company's commitment to delivering client needs at scale and driving innovation through investments in digital, cloud, and transformation capabilities.