Nilekani Named Infosys Md

Software major Infosys Technologies Ltd has broadened its management team in a bid to "lay the ground for further growth and globalisation." The changes will allow Infosys chairman Narayana Murthy to focus at the global level.

This follows the government's clearance for Infosys' $ 125 million American Depository Receipt (ADR) from the government last Thursday. The company has elevated Nandan M Nilekani, currently deputy managing director, to the post of managing director/president and chief operating officer. He will now report to Narayana Murthy, who will be the chairman and CEO. The change will be effected from April 1999, at the start of the next financial year.

 

Infosys explained that this was necessary in view of Narayana Murthy's priority to dedicate more of his time for building Infosys' `brand equity' in the global markets. Murthy will be dealing with "international investors, expanding the physical and technological infrastructure, and looking at growth opportunities". "This requires that he delegate most of his operating responsibilities," it said.

"Infosys is poised to take several major new initiatives. This will require that I focus on ensuring that the right steps are taken to take Infosys to the next millennium. I am happy with what has been accomplished so far, but the future will bring even more opportunities and challenges. I am very enthused by the prospect of being able to spend more time on the seminal activities required for the future of Infosys. Nandan and I have worked closely for over 17 years, and I expect this to be seamless move," said Murthy. "I am excited by this opportunity to contribute to Infosys in a new role. The last few years have seen Infosys grow by leaps and bounds, and I look forward to managing the day-to-day operations as we go forward," said Nilekani.

N R Narayana Murthy has served as chairman of the board and managing director of Infosys since 1981, when he founded the company with six software professionals. Nandan M Nilekani has served as deputy managing director and head-marketing and sales of Infosys since 1987 and head-banking business unit since 1998. From 1981 to 1987, Nilekani was in the United States managing the marketing and development efforts of Infosys. He is also a co-founder of Infosys and a co-founder of the National Association of Software and Service Companies (Nasscom). The company became the first Indian IT company to receive government approval for its proposal to float an ADR. It is now about to start its road shows in the US for its ADR issue. A listing either at the Nasdaq or New York Stock Exchange is planned.

Infosys, which has maintained an annual growth rate of 60 per cent over the last five years, is also one of the about 20 companies in the world to have achieved the Level 4 certification based on the CMM model of the Software Engineering Institute (SEI).