Infy appoints Balakrishnan as Lodestone chairman

Balakrishnan replaces B G Srinivas, head of Europe business and BFSI vertical

Infosys has appointed V Balakrishnan, director, and head of India, BPO and Finacle businesses as the chairman of Lodestone, the Swiss consulting company it had acquired in September last year for about $345 million (Rs 1,930 crore).

Balakrishnan replaces B G Srinivas, the head of Europe business and BFSI vertical at Infosys.

According to the company, the appointment was made few days before N R Narayana Murthy joined Infosys as the Executive Chairman.

“This move is part of the regular re-allocation of portfolios to meet the company’s strategic objectives,” the company said in a statement adding that B G Srinivas will continue to be a key member of the Board of Lodestone.

Balakrishnan will continue to hold the other responsibilities he has within Infosys.

Sources say that Infosys may have brought Balakrishnan to chair to expedite the pace of its integration which is otherwise affecting the joint go-to-market strategy. The Infosys statement however said that the integration of Lodestone is progressing as per plan.