KV Kamath Is The New Chairman Of Infosys, Shibulal New CEO

IT major Infosys Technologies has announced the largest displacement of three decades. NR Narayana Murthy, the man who built a giant global technology services from India, is retiring. Int'l Board of Directors has appointed a new chairman of Infosys CEO Kamath and SD Shibulal.

Current CEO S Gopalakrishnan was named Co-CEO and Narayana Murthy has been appointed Chairman Emeritus, Infosys. Infosys Technologies will be renamed Infosys now limited. All new appointments are effective from August 21, 2011.

Murthy carefully crafted a legacy and values ​​that are difficult to ignore. Infosys had a practice of its founder members will be president. Murthy has resigned as CEO in 2002, transferring the registered co-founder Nandan Nilekani. Nilekani left the company in 2007 to join the unique identification Authority of India. Gopalakrishnan current CEO took the reins of Nilekani, reports ET.

Infosys has formed a nominating committee, of which Professor Jeffrey Lehman S, M Deepak Satwalekar (MD and CEO of HDFC Standard Life Insurance) and KV Kamath (non-executive chairman of the board of ICICI Bank).

The committee is responsible for the roles of succession planning chairman, president and CEO, CFO and Deputy CEO of the company. When the output Murthy, just the two founders - Chief Executive Officer and Chief Operating Officer S Gopalakrishnan SD Shibulal - remains the company's board of directors.

Co-founder K Dinesh also retire after the company Infosys' General Assembly on 11 June 2011. One of the founders, Ashok Arora was the first to leave at the end of 1980, to sell its share. Later, the NS Raghavan left the company.

Infosys was started in 1981, seven companies, including Murthy, Nilekani, Gopalakrishnan, Shibulal and K. Dinesh. The founders started the company's initial investment of Rs 10,000. Today, the IT consulting firm and has a turnover of $ 6040000000.

Bangalore-based Infosys went public in 1993. It has a worldwide presence with 64 offices and 63 development centers across the United States, Great Britain, India, China, Australia, Japan and the Middle East among others.

Promoters are 16.04 percent of the other shareholders of the company are LIC (4.28 percent), Oppenheimer Emerging Markets Fund (2.19 percent) and the Abu Dhabi Investment Authority (1.93 percent). Infosys and its subsidiaries had 1,30,820 employees, March 31, 2011.