Mumbai: In a major top management re-shuffle, Infosys said it has re-appointed N R Narayana Murthy as Executive Chairman and Additional Director with immediate effect.

READ MORE: Infosys raises age bar for Murthy's re-entry

KV Kamath to act as an Independent Director

Veteran banker K V Kamath would step down from his position as Chairman of the Board and take up the role of Lead Independent Director, it added.
    
"The Board has taken this step keeping in mind the challenges that the technology industry and the company faces and in the interest of all stakeholders, particularly shareholders large and small, who have asked for strengthening of the executive leadership during this challenging time," Kamath said.

Murthy's entrepreneurial and leadership record and the long experience he has had as a technology pioneer makes him eminently qualified to lead the company and provide strategic direction at this point in time, he added.

S Gopalakrishnan to focus on key client relationships

S Gopalakrishnan, who was serving as the Executive Chairman, would be re-designated Executive Vice Chairman and would primarily focus on key client relationships and broader industry issues, the statement said.
    
S D Shibulal would continue to be the Managing Director and CEO of the company, it said.
    
In August 2011, Kamath was appointed Chairman, succeeding Murthy, who was made the Chairman Emeritus post his retirement. Also, the then CEO and MD S Gopalakrishnan (Kris) was elevated as the executive co-chairman, while COO S D Shibulal filled in Kris' position. 

Murthy's son joins Infy as his father's executive assistant  

The re-shuffle also marks the entry of the next generation of Infosys founder with Murthy's son, Rohan, joining the over USD 7 billion firm as his father's executive assistant.

 

SOME KEY EVENTS FOR INFOSYS SINCE INCEPTION
1981 Infosys is set up by NR Narayana Murthy and six other engineers in Pune with initial capital of USD 250 mostly borrowed from their spouses
1983 Relocates corporate headquarters to Bangalore, one of the first software companies to set up operations in the city that becomes India's Silicon Valley
1993 Lists on Indian exchanges and is among first in India to introduce employee stock-option plan, a move to attract and retain talent
1999 Becomes first Indian company to list on Nasdaq, raising the profile of the Indian outsourcing industry in the United States
2002 Narayana Murthy hands over chief executive role to co-founder Nandan Nilekani. Murthy becomes chairman. Revenue reaches USD 500 million. Company launches back-office outsourcing services unit, Progeon
2006 Murthy steps down as chairman after 25 years at the helm of the firm after reaching the company's retirement age of 60, continues as non-executive chairman and mentor
2007 Infosys co-founder and chief operating officer Kris Gopalakrishnan takes over as chief executive from Nilekani, who takes up the role of co-chairman
2009 Co-chairman Nandan Nilekani resigns to join Indian government to launch nationwide biometric identity card programme
2011 Co-founder and chief operating officer SD Shibulal named chief executive and his predecessor becomes executive co-chairman. Murthy retires as non-executive chairman and veteran banker KV Kamath, an independent director of Infosys, takes over as non-executive chairman. Board member and human resources Chief TV Mohandas Pai quits
2013 Infosys recalls Murthy to act as executive chairman for five years. Kamath, the current non-executive chairman, to take the role of lead independent director effective June 1. Executive co-chairman S Gopalakrishnan to be re-designated executive vice chairman, while current chief executive officer SD Shibulal to remain in his position

JPN/Agencies

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