Infosys Technologies, India's second largest software company, on Saturday 30th April named veteran banker and seasoned business transformation manger K V Kamath as its new chairman. Kamath, 63, who is currently a member of Infosys' board of directors, will succeed the company's founder N R Narayana Murthy on August 21.
The nominations committee of the company, which is facing one of the toughest times in its three-decades of existence, also named current chief operating officer S D Shibulal as CEO and MD, while the incumbent CEO, S Gopalakrishnan, was elevated to the post of executive co-chairman. Murthy, who turns 65 in August, will become the chairman emeritus, a non-executive position like Kamath's.
Murthy, along with six fellow software engineers, established Infosys with about $250 in 1981. In the last 30 years, they have made it one of the most respected names in the software outsourcing sector with an annual turnover of about $6.2 billion.
Kamath, the chairman-elect, is also the non-executive chairman of ICICI Bank, and is a renowned name in the corporate world.
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1 comment:
I think Infy is doing the right thing by being conservative. That's in fact a major reason that it was the 1st company to start hiring during recession, plus the only corporate giant who didn't cancel any job offers made just before. That was the "real" act of boldness, boldness in favour of its people, not for the attractive figures on balance sheet. Being steady is the best thing and the ethical thing.
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