Narayana Murthy to retire as chairman, Infosys in August
Bangalore: NR Narayana Murthy will step down as chairman of Infosys Technologies Ltd on August 20 this year, when he turns 60.

"According to our company regulations, the retirement age for chairman is 60. However, I will become non-executive chairman of the company from 21st August," Murthy told CyberMedia News.

The tenure of his non-executive chairmanship would be for five years. Murthy said that his new role would be to ensure that board members discharge their functions well, ensure company governance and see that there is no violation of ethics or norms.

He added that he would also see that the company is insulated from risks.

Besides being chairman, Murthy is also the chief mentor at Infosys.

Murthy also said that the company had ensured a good succession plan and is also identifying and grooming potential leaders through the Infosys Leadership Institute.

Murthy served as the chief executive officer of Infosys between 1981 and March 2002, when he handed over the reins of the company to co-founder Nandan M. Nilekani.
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Ramchandra Kamath is new ED of Bank of India
Mangalore: K. Ramchandra Kamath, general manager of the Corporation Bank, has been appointed as executive director of Bank of India for a period of five years.

A Corporation Bank press release said here on Friday that Kamath joined Corporation Bank as an officer trainee in 1977. In 1999, he was elevated as DGM and posted as zonal head of Gujarat. In 2002, he was elevated as General Manager and was in charge of Information Technology and Integrated Risk Management.
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L.K. Gupta is new finance director for MRPL
Mangalore: Lalit Kumar Gupta, vice-president (Finance) and company secretary of MRPL till recently, has been appointed director (Finance) of the company.

A release said on Friday that Gupta joined MRPL as company secretary in December 1999. In August 2000, he was re-designated as general manager (Finance) and company secretary. He was promoted as vice-president (Finance) and company secretary in June 2003, after ONGC took over MRPL, the release added.
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