Reiterating the ambitious target of Infosys to achieve $20 billion revenue by 2020, Infosys CEO and Managing Director Vishal Sikka said with the strategy of ‘renew and new’, company can achieve it. He also said new initiatives, such as focusing on newer technologies, better employee engagement and the Zero Distance approach, will help the company perform better. Infosys has also started focusing more on automation, artificial intelligence, creation of technology platforms and design thinking.
Speaking at the 34 annual general meeting (AGM), here on Monday, Mr. Vishal Sikka said, “We have taken certain steps such as focusing on newer technologies, more employee engagement, more client relationship, especially the Zero Distance (ZD) initiative, which is an attempt to get employees to infuse innovation and bring improvements to every project will help us get back on the industry leading growth.” He also said the company would see an industry-leading growth from FY17. “Our goal is to become a $20-billion company by 2020 and to be the best IT providers for our customers world over.”
The 34th AGM of Infosys was a special occasion as it was the first AGM of the company, wherein none of the founders were present in any executive role since its listing in 1981.
Non-founder, non-executive Chairman Seshasayee was chairing the event as K. V. Kamath resigned from the board due to his appointment as the head of BRICS bank. The AGM was also the first annual shareholder’s meeting after Mr. Sikka, a non-founder, was appointed as the MD and CEO of the company.
Addressing the shareholders, Infosys non-executive Chairman R. Seshasayee said, “We are in the midst of tremendous changes in our industry and therefore for our company. Traditional business models are beginning to be disrupted by new technologies and new ideas.”
When asked about Mr. Sikka’s ambitious plan, Infosys founder N.R. Narayana Murthy, said, “I’m extremely happy and I think he’s a great leader. He has aspirational targets. We should all support him, we should all pray that he succeeds.”
Mr. Murthy, who retired from the company’s board on October 2014, after his second innings as Chairman, attended the AGM as a shareholder. Other two co-founders, who were holding executive roles, Kris Gopalakrishnan and S. D. Shibulal, also stepped down from their roles last year.
The AGM also saw many shareholders asking for Mr. Murthy’s comeback. Answering their queries, Mr. Seshasayee termed Mr. Murthy as Beeshmapitamaha and said, “Mr. Murthy is our mentor and we still seek advice from him.”
