IT bellwether and India's second largest software exporter rejigged its management on Saturday and announced banker KV Kamath as its new chairman. KV Kamath will succeed NR Narayana Murthy who is one of the founding members of the company.
The over $6-billion Infosys Technologies has also appointed current CEO S Gopalakrishnan as the executive co-chairman and promoted chief operating officer (COO) S D Shibulal as CEO and MD. Murthy, who turns 65 in August, will become Chairman Emeritus for life.
Kamath is currently an independent director on the board of Infosys. He is the non-Executive Chairman of ICICI Bank, the country's largest in.finance.yahoo.com/news/Infosys-management-rejig-SD-yahoofinancein-2479236323.htmlprivate lender. Accepting his new job, Kamath said that no one can ever replace Narayana Murthy who is an iconic leader as far as the nation is concerned. He added, "It is an honour to lead a team that has achieved so much. I have known Murthy for many years. He has a built a company not only with intellect but also strong values. And I would like to take this forward to a new level with the help of my new team." He will spend 30 days in a year in Infosys in his new role.
Talking to the media, Murthy said, "KV has been a close associate and he has been part of the board for nearly 10 years. I also take this opportunity to announce Shibulal as the company's new CEO and Managing Director."
While talking about Shibulal's commitment Murthy recounted an anecdote. When they worked in Patni, he came to report about the progress in a systems software project. Murthy angrily told Shibu that he could not leave office till he completed this work. Two days later he zipped by office and found Shibu still in office in his "lungi" working diligently on the job that his then boss, Murthy, had asked him to complete. "This is the level of commitment Shibulal demonstrates," said Murthy.
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Infosys Technologies will now be renamed Infosys Limited. All new appointments would be effective from August 21, 2011. Kris Gopalakrishnan said that the company will name three new directors by June 11, 2011. He stressed that Infosys was aligning various units under four business groups.
Shibulal takes over from Gopalakrishnan, who in turn replaced Nandan Nilekani. Talking to the press, SD Shibulal said, "Objective is to build a next generation global services company and focus on strengthening client relationships." Shibulal added that Infosys next phase would be called Infosys V 3.0 and the company would be looking at GDM on cloud as its key driver.
The company has also realigned its verticals into 4 key business units, Shibulal added. When asked about how the company will deal with the transition, he said, "We will ensure that this leadership transition is smooth... We are also making other organisational changes to strengthen our market position and ability to serve our clients better".
Headquartered in Bangalore, Infosys has 64 offices and 63 development centres across the US, the UK, China, Australia and Japan, among other countries.
The company and its subsidiaries had a workforce of 1,30,820 employees as of March 31, 2011.
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