Narayana Murthy bids farewell to Infosys
19 Aug 2011
After having led Infosys, a company he built with associates, to a place among the top IT companies of the world in a short 20 year span, NR Narayana Murthy hung up his boots as chairman of the company today. However, indications are that he would continue to guide the organisation in a different capacity.
Murthy's mantle will fall on K V Kamath, who has been with the company since May, 2009 as an independent director on the Infosys board.
S D Shibulal would take over as CEO and MD and S Gopalakrishnan will assume responsibilities as executive co-chairman of Infosys. Current Infosys co-chairman, Kris Gopalakrishnan, who is also a co-founder, has been elevated as the executive co chairman.
Though his stepping down would bring to an end his formal association with the company, he would continue to guide the organisation in the capacity of chairman emeritus.
Murthy co-founded Infosys, in 1981, along with six other engineers in Pune and has since then created thousands of millionaires through his stock option schemes.
Infosys started operations in a 10x10 room with a capital investment of just Rs10,000 and has today grown to a Rs27,000 crore IT colossus.
