Murthy presides over Infosys AGM for the last time today
11 Jun 2011
The 30th annual general meeting of Infosys today is likely to be an emotional affair, as iconic founder and chairman N R Narayana Murthy will preside for the last time. From Monday, he will retire into the role of chairman emeritus.
The 450,000 shareholders and 130,820 employees of India's second-largest information will cherish the memories, as it will also be the last AGM for co-founder K Dinesh and human resources director Mohan Das Pai – one of the most popular figures at the company apart from the co-founders – as they have announced their retirement along with Murthy.
Murthy, who co-founded Infosys in 1981 with six others, wrote a farewell letter to employees in the company's annual report, in which he spoke about his journey with the company. He mentioned that he would continue to give advice to the company's board ''if asked''.
"Infosys is an inseparable part of me and I am an inseparable part of Infosys," he wrote. "The best analogy that I can think of … is that of one's daughter getting married and leaving her parents' home. Yes, the parents will be there when she needs them, and they will be happy that she is starting a new life in an exciting new environment."
In the letter, Murthy also spoke about the "pain" too that he goes through upon seeing other cofounders quit. "Deliberating all alone on the resignation offer of a cofounder is not something I would wish even upon my enemy," he wrote.
Many of Infosys's cofounders have parted ways with the company, the latest being Dinesh.
Murthy expressed confidence in the next-generation leadership. ''I definitely think I can leave in peace, as I am definitely sure that these (new leaders) are very capable people. They are of course very kind to say good things about me. But I think they are in many ways smarter than me,'' Murthy had said earlier.
Infosys is expected to announce the names of new directors into the board by taking insiders in an executive capacity. The company is expected to announce two new members to the board - chief financial officer V Balakrishnan and banking, capital markets and strategic global sourcing head Ashok Vemuri. The company may also look at a third person from within as board member.