IT services major Infosys, on Friday, announced the appointment of two company presidents, B.G. Srinivas and U. B. Pravin Rao who would both report to Mr. S. D. Shibulal, Chief Executive Officer and Managing Director. The appointments take immediate effect, the company said in a statement.

Following the changes, the Executive Council, which had been responsible for laying strategic goals, will cease to exist with effect from April 1, 2014, the company said.

The lines of business relating to financial services, insurance, manufacturing, engineering services, Energy and Communications, Infosys Public Services, Infosys Lodestone, Strategic Global Sourcing, marketing and alliances would report to Mr. Srinivas.

Businesses related to retail, consumer packaged goods and logistics, life sciences, resources and utilities, services, growth markets, cloud and mobility, quality & productivity and Infosys Leadership Institute would report to Mr. Rao under the new arrangement that has been initiated.

Moreover, while Mr. Srinivas would focus on global markets, Mr. U. B. Pravin Rao would be responsible for global delivery and service innovation.

Mr. Srinivas headed the company’s operations in Europe and headed Infosys’ financial services vertical globally, apaprt from being the Chairman of Infosys Lodestone. Mr. Rao joined the board after the exit of Mr. V. Balakrishnan from the company last month.

Mr. Shibulal said the changes would “enhance our focus on deepening client relationships, increasing market share, creating service differentiation through innovation and agility in execution.”

Infosys is due to announce its results for the third quarter results on January 10.