BANGALORE, India, April 30 /CNW/ - The Board of Directors met today and
announced the following changes to the Board.
Mr. N. R. Narayana Murthy appointed Chairman Emeritus.
Mr. K. V. Kamath named as the Chairman of the Board.
Mr. S. Gopalakrishnan named as the Co-Chairman of the Board.
Mr. S. D. Shibulal named as the Chief Executive Officer and Managing
The appointments are effective from August 21, 2011. The decision of the
Board is based on the recommendations of the Nominations Committee.
Speaking on the occasion, Prof. Jeffrey S. Lehman, Chairman of the
Nominations Committee said,
"This is a great moment for Infosys. These three leaders meld an
extraordinary range of talents and experiences with a united commitment
to drive the company to unprecedented levels of accomplishment while
remaining true to its historic values. We could not be in better
Chairman of the Board
Kundapur Vaman Kamath is currently an Independent Director on the Board
of Infosys. He is the Non-Executive Chairman of the Board of Directors
of ICICI Bank Limited, India's second largest bank. Kamath has a degree
in mechanical engineering as well as one in management studies from the
Indian Institute of Management, Ahmedabad. Kamath was awarded the Padma
Bhushan, one of India's highest civilian honors, in 2008. He was given
the Lifetime Achievement Award at the NDTV Profit Business Leadership
Awards 2008; was named 'Businessman of the Year' by Forbes Asia and The
Economic Times 'Business Leader of the Year' in 2007; Business
Standard's 'Banker of the Year' and CNBC-TV18's 'Outstanding Business
Leader of the Year' in 2006; Business India's 'Businessman of the Year'
in 2005; and CNBC's 'Asian Business Leader of the Year' in 2001. He has
been given an honorary Ph.D. by the Banaras Hindu University.
Speaking on the occasion Mr. K. V. Kamath said, "Infosys is a company
which has been built by its founders, led by the visionary leader Mr.
N. R. Narayana Murthy, who as its Chief Executive Officer & Managing
Director and then as its Chairman and Chief Mentor, provided Infosys
its thought leadership over the years. This is an innovation-led
company, with a core of outstanding professionals that has always set
the highest standards and has built a unique culture. I feel greatly
honoured to have been asked to be the Chairman of Infosys by the Board
of Directors and accept this responsibility with a deep sense of
Co-Chairman of the Board
Mr. S. Gopalakrishnan (Kris), a co-founder of the Company, has been
serving as the Chief Executive Officer and Managing Director since June
22, 2007. Kris is recognized as a global thought leader. He was
selected to be on Thinkers 50, an elite list of global business
thinkers compiled by Des Dearlove and Stuart Crainer, in association
with the IE Business School, Madrid, and the London Business School's
Management Innovation Lab. Kris has received many honors including
Padma Bhushan. Kris holds a Master's degree in Physics and Computer
Science from the Indian Institute of Technology, Chennai.
Speaking on the occasion Mr. S. Gopalakrishnan said, "I am happy and
honoured that the Board has requested me to take on the responsibility
of Executive Co-Chairman. I look forward to working with Vaman and
Shibu, post August 20th, when Mr. N. R. Narayana Murthy retires from
the Board as Chairman and Chief Mentor. Our goal is to strengthen and
grow Infosys further while maintaining the trust and confidence reposed
in us by all the stakeholders - clients, employees, investors and
shareholders, vendor-partners, the government of the land, and
Chief Executive Officer and Managing Director
Mr. S. D. Shibulal is one of the co-founders and currently serves as the
Chief Operating Officer of Infosys Technologies Limited. He has over
three decades of leadership experience in IT services industry. He has
played a pivotal role in the Infosys journey and a seminal role in the
evolution of the Global Delivery Model which is now the de-facto
industry standard for delivery of outsourced IT services. Mr. S. D.
Shibulal has a Master's degree in Physics from the University of Kerala
and an MS in Computer Science from the University of Boston.
Speaking on the occasion, Mr. S. D. Shibulal said, "I am honored to be
appointed the Chief Executive Officer & Managing Director of this great
organization. In the last 30 years, Infosys has established itself as
an industry leader. Under Kris's leadership, Infosys has scaled greater
heights and has become a respected global brand. Vaman is a well-known
and highly-respected corporate leader. As we look ahead, we will ensure
that this leadership transition is smooth as all other transitions have
been in the past. We are also making other organizational changes to
strengthen our market position and ability to serve our clients
The Board of Directors unanimously invited Mr. N R Narayana Murthy to be
the Chairman Emeritus effective August 21, 2011. This is in recognition
of his founding the company, mentoring his co-founders, and nurturing
the organization over the last thirty years.
Speaking on the occasion Mr. N. R. Narayana Murthy said, "I am thankful
to the Nominations Committee for doing an admirable job of succession
planning and continuing the Infosys tradition of a sound succession
strategy. I am glad they have found a perfect team to strengthen
customer, investor and employee connect on the one-hand, and
world-class board governance on the other hand. Vaman is, in my
opinion, one of the finest corporate leaders of modern India. Kris has
demonstrated high-class performance during testing times for the
industry and the company. I congratulate Shibu on being appointed the
Chief Executive Officer & Managing Director. I have no doubt he will do
an excellent job like Kris did. Vaman, Kris and Shibu will make an
ideal team. I am grateful to the Board for appointing me as the
Chairman Emeritus and providing me an opportunity to add value to the
Board, the Executive Management and every Infoscion if asked by them."
About Infosys Technologies Limited
Many of the world's most successful organizations rely on the 1,30,820
people of Infosys to deliver measurable business value. Infosys
provides business consulting, technology, engineering and outsourcing
services to help clients in over 30 countries build tomorrow's
For more information about Infosys (NASDAQ: INFY), visit http://www.infosys.com
Certain statements in this release concerning our future growth
prospects are forward-looking statements, which involve a number of
risks and uncertainties that could cause actual results to differ
materially from those in such forward-looking statements. The risks and
uncertainties relating to these statements include, but are not limited
to, risks and uncertainties regarding fluctuations in earnings,
fluctuations in foreign exchange rates, our ability to manage growth,
intense competition in IT services including those factors which may
affect our cost advantage, wage increases in India, our ability to
attract and retain highly skilled professionals, time and cost overruns
on fixed-price, fixed-time frame contracts, client concentration,
restrictions on immigration, industry segment concentration, our
ability to manage our international operations, reduced demand for
technology in our key focus areas, disruptions in telecommunication
networks or system failures, our ability to successfully complete and
integrate potential acquisitions, liability for damages on our service
contracts, the success of the companies in which Infosys has made
strategic investments, withdrawal or expiration of governmental fiscal
incentives, political instability and regional conflicts, legal
restrictions on raising capital or acquiring companies outside India,
and unauthorized use of our intellectual property and general economic
conditions affecting our industry. Additional risks that could affect
our future operating results are more fully described in our United
States Securities and Exchange Commission filings including our Annual
Report on Form 20-F for the fiscal year ended March 31, 2010 and on
Form 6-K for the quarters ended June 30, 2010, September 30, 2010 and
December 31, 2010.These filings are available at http://www.sec.gov.
Infosys may, from time to time, make additional written and oral
forward-looking statements, including statements contained in the
company's filings with the Securities and Exchange Commission and our
reports to shareholders. The company does not undertake to update any
forward-looking statements that may be made from time to time by or on
behalf of the company.
SOURCE Infosys Technologies Ltd.
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