KV Kamath appointed chairman of Infosys Technologies, will succeed the company's founder N R Narayana Murthy on August 21.
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.