London: Infosys Chairman Narayana Murthy has been conferred with an honorary Doctorate degree by Lancaster University in recognition of his lasting contribution to the fields of business and business education.

The honorary degree - a Doctor of Science - was conferred on him by the Chancellor of the University, Sir Chris Bonington, at a special awards ceremony in Lancaster on 12 December, the University said in a statement.

Murthy founded Infosys in 1981 along with six other software professionals and served as its CEO for 21 years before handing over the reins of the company to co-founder Nandan Nilekani in 2002. He then served as Executive Chairman of the Board and Chief Mentor from 2002 to 2006.

Murthy designed and implemented the Global Delivery Model, which has become the foundation for the success of IT services outsourcing from India. Among numerous honours, Murthy was voted the ‘World Entrepreneur of the Year’ by Ernst and Young in 2003 and India’s most powerful CEO for three consecutive years by ‘The Economic Times’.

Speaking about the award, Professor Vudayagi Balasubramanyam from Lancaster University Management School’s Department of Economics, said: “Murthy is a towering figure in the world of business known for his immense contribution to India’s recognised presence in the global information technology sector.

“He is a class of his own as a businessman. He not only tirelessly promotes the information technology industry of India but is a staunch supporter and advocate of management education in India and abroad.”