Infosys President Rajesh Murthy steps down

IT major Infosys's President Rajesh Murthy, one of the company's most highly paid executives resigned from his post.

Murthy, who was President of the company since October 2016, has resigned citing personal reasons. The same was reiterated by Infosys COO UB Pravin Rao while addressing a press conference post the release of the company's third quarter results.

"Rajesh Murthy has stepped down from his post on account of personal reasons. He had indicated his desire a few months back, and was able to find something suiting his preferences at this point in time. I think we should not read more into it," he said.

An employee of the company for 26 years, Murthy was responsible for the global Energy, Utilities, Telecommunications and Services business unit, including setting the vision, creating and implementing strategy, and driving growth. He has held senior leadership positions across the business and in all major markets. As a business leader of large transformation projects, Rajesh has helped realise compelling value for clients through his deep industry knowledge, coupled with technology experience.

"The Board places on record its deep appreciation for his commitment to Infosys over the last 26 years and wishes him the very best for his future endeavours," the company said in a statement here today.

Meanwhile, reports suggest that Pravin Rao will be retained as Whole-time Director till 2022, while CEO Salil Parekh's term will be for five years.

Murthy's last day at Infosys will be January 31, 2018.