Srinivas succeeds Chan Ching Cheong, George, who is retiring from that position.
PCCW holds a majority interest in the over $2-billion HKT, Hong Kong’s premier telecommunications service provider. It owns a fully integrated multimedia and entertainment group in Hong Kong, which includes a highly successful IPTV operation. Its global network supports solutions in network, voice, cloud computing and video solutions in more than 3,000 cities and 130 countries. It has an IT services and BPO division. The integrated communications player employs over 22,000 people.
Srinivas will have a basic salary of about US$1.14 million per year, plus a housing allowance and a non-discretionary annual bonus of $180,000. He will also be entitled to performance related cash and share based compensation, subject to the achievement of performance targets.
Srinivas was widely regarded as a CEO contender at Infosys, whose incumbent CEO SD Shibulal retires by January. The PCCW appointment suggests that Srinivas knew for a while that he was no longer in the running for the position. Or maybe he found the PCCW offer very compelling. Srinivas could not be contacted for a statement.
