The announcement of Infosys results was overshadowed by the revelation that two of the company's long-time board members — T. V. Mohandas Pai, Head (Human Resource Development and Education and Research), and company co-founder K. Dinesh, Head (Quality, Information Systems and the Communications Design Group) — would step down with effect from June 11.
The company's board will meet on April 30 to decide on a successor to its Chairman and chief mentor N. R. Narayana Murthy, whose term expires in August. Company CEO and Managing Director S. Gopalakrishnan refused to comment when asked if the board would be reconstituted at the meeting. He said Infosys was preparing itself for “a generational change, which would be effected over a period.”
In a separate development, Infosys informed the stock exchanges that it has appointed former Microsoft India Chairman Ravi Venkatesan to the board with effect from Friday.
Mr. Pai said the decision to quit was “not decided suddenly.” “I have been thinking about this for over a year,” he said. He ruled out any political ambitions, but said he would continue to remain on the boards of companies and universities with which he was associated.