In the eighth top-level exit since Narayana Murthy's comeback, board member V. Balakrishnan resigned. Meanwhile, Kiran Mazumdar-Shaw has been inducted as an independent director.
IT major Infosys has been hit by yet another resignation, with board member V. Balakrishnan resigning from the company. This is the eighth top-level exit the software services exporter has seen since company co-founder N.R. Narayana Murthy returned as Chairman in June this year.
Mr. Balakrishnan was also widely seen by some as the current CEO S.D. Shibulal’s replacement. Mr. Shibulal is set to retire in 2015. His resignation is effective December 31, 2013.
“Bala has been an early adopter and a keen anchor builder of Infosys. It is difficult to imagine Infosys without Bala’s passion, commitment and intellect,” Mr. Murthy said in a statement.
Infosys also announced an addition to its board. Biocon chief Kiran Mazumdar-Shaw will join as an independent director of the board.
U.B Pravin Rao, who is currently a member of Infosys’ Executive Council, will be inducted as a whole-time director of the company.