IT services major Infosys on Wednesday said one of its independent directors Leo Puri will step down from the board of directors following his appointment as the Managing Director of UTI Asset Management.
Mr. Puri, who joined the Infosys board in April 2013, has also served as a Managing Director in investment firm Warburg Pincus & Company.
“Leo Puri, an independent director of the company, has conveyed his intention to step down from the board of directors of Infosys effective August 14, 2013”, India’s second largest software services exporter said in a release.
This is pursuant to his appointment as Managing Director of UTI Asset Management Co Ltd, India’s sixth largest asset manager by size. Mr. Puri joined the Infosys Board on April 11, 2013, it added.
Mr. Puri has been a Senior Advisor to McKinsey & Company’s Asia-Pacific Financial Institution Practice and has over 25 years of experience of working in consulting and investment field for financial institutions, Infosys said.
Between 2007 and 2011, Mr. Puri was a managing director with private equity firm Warburg Pincus & Company, responsible for investments in India and financial institutions in relevant Asian markets, it added.
“Though Leo Puri’s association with Infosys has been a short one, we will definitely miss his vast knowledge and experience in the consulting and investment field. We would like to congratulate Mr. Puri on his new role and wish him all the best in his future endeavours”, Infosys Executive Chairman and Co-founder N. R. Narayana Murthy said.