Replacing Narayana Murthy, Kamath aims at new horizons for Infosys

K V Kamath today took over as the new chairman of information technology company Infosys Ltd; co-founder and current chairman N R Narayana Murthy having relinquished his post as of Saturday.

In the wake of Infosys losing its bellwether status as a software exporter, Kamath said he would realign business segments and sharpen service offerings.
 
Kamath, credited with leading the growth of ICICI Bank Ltd during his previous position before joining Infosys, said in various interviews on Sunday that the company will focus on a 'blue ocean' strategy of entering uncontested markets and under-penetrated businesses and continue to build on its brand equity.
 
The change of guard at the top of Infosys coincides with increasing competition and a fresh downturn in its key markets in the US and Europe.
 
A leading executive of ICICI Bank, India's largest private sector lender, for 15 years, Kamath retired from the bank on 30 April 2009.

Among other strategies, he highlighted an openness to acquisitions, re-orientation of strategy, and radical innovations to increase productivity. "We understand what the challenges are and our response is ready," he said.

Murthy, who led the company for 30 years, will continue to have a role in Infosys as 'chief mentor' and chairman emeritus. He was the key figure in founding and building the company into a global brand with annual sales of $6 billion (Rs27,000 crore).

"If I look at Infosys, it has been a company that for a long time adapted to markets. I'm very clear that the adaptation to the market which is just now being called for will be done," Kamath, 63, said.

In the past few months, Infosys, which has for long set the standard for performance in the IT industry, has given the impression of being wobbly. Several of its top executives and co-founders, including Mohandas Pai, Subhash Dhar, and K Dinesh, have resigned.