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A second innings at Infosys

CHANGE OF GUARD: A file photo of N.R. Narayana Murthy (right) with Nandan Nilekani. Photo: G.R.N. Somashekar

CHANGE OF GUARD: A file photo of N.R. Narayana Murthy (right) with Nandan Nilekani. Photo: G.R.N. Somashekar  



Special Correspondent

Bangalore: Curtains will come down on an illustrious corporate career in an executive post when N.R. Narayana Murthy steps down on Sunday as chairman of the company he founded along with six others in 1981 with a paltry sum of Rs. 10,000 each and took it to dizzying heights in 25 years.

Bangalore-headquartered Infosys Technologies Limited is India's second largest software exporter with revenues of $ 2.15 billion, a market capitalisation of $ 21 billion and employees in excess of 58,000. Mr. Murthy turns 60 on August 20 and, as per the company's corporate governance policy, he will relinquish his executive post to become a non-executive chairman from Monday after passing on the baton to chief executive officer, president and managing director Nandan M. Nilekani.

"I am a very happy man... God has been kind," Mr. Murthy said while talking to presspersons at the company's annual general meeting recently. He was quick to add that his "commitment to Infosys will continue" even after giving up the full-time position.

The board of NASDAQ-listed Infosys has put in place a succession plan which will see Mr. Nilekani, the senior-most founder-member of the company after Mr. Murthy, re-designated as CEO and MD after ceding the post of president to his aide S. Gopalakrishnan who will be the president, chief operating officer (COO) and Joint MD from August 21. Mr. Gopalakrishnan is currently the COO and deputy MD. The board of Infosys has decided to leave vacant for the time being the post of executive chairman and asked Mr. Murthy to continue as the non-executive chairman and chief mentor and inducted him as an additional director on the board after his retirement.

He said he had no intentions to enter politics.

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