Infosys recalls Narayana Murthy to head IT giant in challenging days

TAGS: N R Narayana Murthy | Narayana Murthy |Narayana Murthy is Infosys executive charman | K V Kamath | Rohan Murthy

N R Narayana Murthy will take over as Infosys executive chairman from June 1.

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The $7-billion Bangalore-based IT services giant Infosys on Saturday recalled its founder and former chairman N.R. Narayana Murthy and appointed him as its executive chairman.

Murthy seen as a father figure of India's IT success story, will replace current chairman and veteran banker K.V. Kamath, who will become lead independent director, effective from Saturday, the company said in a satement.

N R Narayana Murthy

The current executive co-chairman S. Gopalakrishnan has been re-designated executive vice chairman while S.D. Shibulal, who was one of the seven engineers to launch the company in 1981 by pooling together $250, will continue as chief executive officer.

Narayana Murthy's exclusive interview 

Stating that is was "very unusual" for him to be back at Infosys, Murthy, who will turn 67 in August, said the company faced challenging times but did not elaborate.

Narayana Murthy with his kids.

He said he would "add value" to Shibulal's role and that the company should focus on large application development, maintenance and independent validation services.

As a student, I attended all classes: Narayana Murthy 

Infosys board re-appointed Murthy, who retired from the company in August 2011 to become chairman emeritus, for five years from June 1.

Rohit Murty

"The board has taken this step keeping in mind the challenges that the technology industry and the company faces," Kamath said acknowledging calls from shareholders to strengthen executive leadership of the company.

Murthy said his son Rohan Murty, a junior fellow at Harvard University, will have no leadership role in the company.

- With PTI inputs

Read more at: http://indiatoday.intoday.in/story/infosys-recalls-murthy-to-head-the-company-in-challenging-days/1/277897.html