Meet Phaneesh Murthy, An IIT Grad Whose Salary Was Rs 45 Crore but Got Fired Due To….

IITs have been the breeding ground for numerous geniuses who went on to lead some of the biggest companies in India. A substantial proportion of successful enterprises in the country have been spearheaded by brilliant minds that emerged from IITs. One such distinguished IIT graduate who once led a tech giant, overseeing the acquisition of the company where Narayana Murthy worked before founding the Rs 647,000 crore Infosys, is Phaneesh Murthy. Before his termination from the company, Phaneesh Murthy enjoyed an annual salary package of around Rs 45 crore. Currently, he serves as a board member in several companies.

Born into a middle-class family in Bangalore, Phaneesh Murthy earned a B.Tech Degree in Mechanical Engineering from IIT Madras. Following his graduation, he pursued PGDMgt from IIM Ahmedabad. His professional journey commenced with Sonata Software, where he worked for approximately five years. Subsequently, he moved on to Narayana Murthy’s Infosys, holding various positions within the organization before his departure after facing lawsuits from two women.

After founding Primentor and Quintant Services Limited, Phaneesh Murthy joined iGATE Global Solutions Limited in August 2003, following its acquisition of Quintant. Credited with restructuring iGATE, he played a pivotal role in the company’s acquisition of Patni Computer Systems for $1.22 billion. Notably, Patni Computer Systems was the former employer of Narayana Murthy and was twice the size of iGATE at the time of acquisition, establishing iGATE as one of the largest IT companies in India. Unfortunately, Phaneesh Murthy was terminated from iGATE following another lawsuit filed against him by a subordinate employee.

Despite the challenges in his professional journey, Phaneesh Murthy’s impact on the Indian IT industry remains significant, reflecting both his successes and the controversies that accompanied his illustrious career.