Many would have missed the newsitem in several newspapers last week about Infosys fining its Executive Directors for violating company's code of conduct. He was fined for failing to notify the company in time that he sold 10,000 company shares the week before. Infosys' insider trading rules state that directors and officers may buy or sell company shares only after prior notification to the company. Further, notification must also be given within one working day following the execution of such transactions.
Looking at all the news reports it is clear that the news is based on Infosys's release where it is making a clear acknowledgment of the lapse, identifies the senior director by name, and specifies the 'misconduct'. Great example of conformance to good corporate conduct, and proactive acknowledgment.
The penalty of Rs.5 lakh imposed on the director, again, shows the corporate vision...the penalty does not go to the corporate coffers but to a charity.
In today's world of cut-throat competition and race to save the corporate face and image from public glare, here is a company which continues to, and infact, enhances its corporate image in the public eye, by sharing an otherwise damaging news. Kudos to Infosys management for following the fundamentals of public relations...there is no substitute for truth....and it pays to be truthful and honest.
Subscribe to:
Post Comments (Atom)
Tourism is more than a business or just an economic activity
What do you mean by tourism? I often wonder at the word ‘tourism’; perhaps the only business or vocation which has ‘ism’ prefixed to it....
-
Emboldened and inspired by the 'Startup India' many startups are emerging, and youngsters especially, are enthused to setup thei... -
"How does it matter to me?" or in chaste Panjabi it is often remarked, " Kee farak penda hai? " or even when some of th...
No comments:
Post a Comment