The executive council, which was the top-decision making body, will be dissolved effective April 1
Months after disbanding its top decision making body, IT major Infosys on Friday announced that the company would appoint nine executive officers effective April 1.
The new executive officers include company co-founders N.R. Narayana Murthy and S. Gopalakrishnan, chief executive officer S.D. Shibulal, head of delivery excellence Srinath Batni, Chief Financial Officer Rajiv Bansal, Senior VP and HR head Srikantan Moorthy, Chief Risk Officer Parvatheesam K. and the two company presidents who were recently inducted, B.G. Srinivas and U.B. Pravin. The disbanding of the executive council, which was announced in January , was unexpected as it was quick on the heels of an expansion of the same body.
Friday’s announcement was made in a filing to the US Securities and Exchange Commission. It said that the current executive council would cease to exist from April 1, after which the newly-announced members would take over.
The change in the executive body comes at a time when Infosys is seeing major changes at the top-level, with at least nine top-level executives calling it quits in recent months, one as recently as last week.
Mr. Murthy had recently alluded to major top-level changes, at successive investor meets, in order to improve productivity at the company.. Infosys recently announced that the company would grow at the lower end of its sales outlook at 11.5 per cent, months after it revised growth guidance from 9-10 per cent to 11.5-12 per cent.