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KV Kamath is Infosys Chairman Bangalore, April 30
Infosys today also announced SD Shibulal, its Chief Operating Officer (COO) and one of the company’s co-founders, as its new Chief Executive Officer (CEO) and Managing Director. In a press conference on the Infosys campus here today, it was announced that KV Kamath would be the new Chairman of the Infosys. He would replace the company’s iconic founder Narayana Murthy, who would relinquish the post of the Chairman on August 21. As a mark of respect for the role played by Murthy in the growth of the Infosys and his role in the development of the IT industry in general, he was appointed as the Chairman Emeritus for life. Murthy said though he would not have “any timetable”, he would be always available for suggestions pertaining to the business of the Infosys. Kamath, who is also the Non-Executive Chairman of the board of ICICI bank, is right now an independent director on the board of the Infosys. Most importantly, Kamath, who has a background in banking, is a member of the three-member Nomination Committee, which was assigned the job of recommending to the Infosys board the name of the person, who would succeed Murthy.The board of directors of the Infosys, which met here today also decided to induct three new executive directors in the board before the annual general meeting of the company was held on June 11.
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While Narayana Murthy’s retirement was due, having reached the age of 65 years, the company said it decided to carry out other changes simultaneously so that the restructuring was accomplished in one go. To dispel any rumour about linking the appointment of the new CEO with any shortcoming on the part of the present CEO S Gopalakrishnan, it was pointed out by Narayana Murthy that during Gopalakrishnan’s tenure the Infosys became a $6 billion company from being a $3 billion company when he took over as the CEO in 2007. 