Infosys: Pai to step down as CFO - Balakrishnan takes over
Bangalore: After serving for twelve years as chief financial officer (CFO) of Infosys Technologies, T.V. Mohandas Pai will step down on April 30. He will however continue to be a member of the board.

V. Balakrishnan, currently company secretary and senior vice-president - finance, would take over as CFO from May 1, Infosys said on Friday. Pai would also be responsible for human resources development (HRD), education and research (E&R) and administration.

Describing Pai as one of the finest finance professionals in the country, the Infosys chairman and chief mentor, N.R. Narayana Murthy, said the CFO had given up his position voluntarily in keeping with his belief that "younger people should get strategic opportunities early enough to shape the company and have their day in the sun".

"As we continue to scale up, the major challenges for Infosys will be in the HRD and E&R areas. I am glad we have Mohan handling these critical functions," Murthy said at a press conference.
Infosys, which is 50,000 strong as of March 31, 2006, expects to add 25,000 more during fiscal 2007.
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Ashank Desai, Mastek ED, to take a sabbatical
Mumbai: After nearly two-and-a-half decades at the helm of affairs Ashank Desai, founding father and executive director of Mastek Ltd, has decided to take a long sabbatical.

He will break from work this May and expects to be back at the helm only in January 2007, according to a statement.

In his absence, Sudhakar Ram, group CEO, will additionally take over as acting chairman.

During this period, Desai will be busy with his responsibilities with a number of industry and public organisations, said a spokesperson for Mastek.
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