Infosys appoints Narayana Murthy as Executive Chairman

Software major Infosys on Saturday said in a statement that it has re-appointed N R Narayana Murthy as its executive chairman and additional director with immediate effect.

The decision was taken at a board meeting today, Infosys said in a statement, adding that the appointment will be effective from June 1, 2013.

The statement said that banker K V Kamath would step down as Infosys Board chairman and perform the role of Lead Independent Director.

"The Board has taken this step keeping in mind the challenges that the technology industry and the company faces and in the interest of all stakeholders, particularly shareholders large and small, who have asked for strengthening of the executive leadership during this challenging time," the statement quoted Kamath, as saying.

Murthy's entrepreneurial and leadership record and the long experience he has had as a technology pioneer makes him eminently qualified to lead the company and provide strategic direction at this point in time, he added.

S Gopalakrishnan, who was serving as the Executive Chairman, would be re-designated Executive Vice Chairman and would primarily focus on key client relationships and broader industry issues, the statement said.

S D Shibulal would continue to be the Managing Director and CEO of the company, it said.

The re-shuffle also marks the entry of the next generation of Infosys founder with Murthy's son, Rohan, joining the over USD 7 billion firm as his father's executive assistant.