"The nominations committee of the board of directors has begun the search to select a successor to Shibulal, who expressed a desire to retire as the chief executive and managing director on the date of the last board meeting or before his superannuation on January 9, 2015 or when a successor is ready to assume office," the company said in a statement.

The board of directors is scheduled to meet on April 15 to approve the company's accounts for fiscal 2013-14 at its corporate headquarters in this tech hub.

"The committee will shortlist and evaluate an internal slate of candidates with the assistance of Development Dimensions International, a company specialising in corporate executive evaluations," the statement said.

The board has also appointed Egon Zehnder, an executive search firm, to assist the committee in identifying an external slate of candidates.


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