Bangalore: In a re-structuring of the board at Infosys, V. Balakrishnan, chief financial officer, B.G. Srinivas, senior vice president and head, manufacturing, and Ashok Vemuri, senior vice president and head, banking and capital markets, have been appointed as executive directors.
Ann Fudge, a non-executive director at Unilever, Novartis AG and General Electric Company has been appointed as additional independent director, chairman N.R. Narayana Murthy told reporters after the company’s 30th AGM on Saturday.
There has been much speculation about another woman director on the board after the exit of Ms Rama Bijapurkar a couple of years ago, as well as who among the non-founder, senior leadership in the company will make it to the board, signaling the beginning of a transition away from the founders.
Chairman and chief Mentor Murthy is stepping down on 20 August, his 65th birthday, with ICICI Bank chairman K.V. Kamath taking over as chairman of the board. Current CEO and co-founder Kris Gopalakrishnan is to be vice-chairman.
Already, the elevations have seen a casualty. Gopalakrishnan confirmed that Subhash Dhar, senior vice president, had resigned, to “become an entrepreneur.” Earlier this year, board member T.V. Mohandas Pai had resigned.
Srinivas said that he had already started off his new responsibilities, as he was now involved in “planning functions” for the company. Asked if he wanted to become CEO in the future, he said that there were many leaders in that company with such aspirations, and “I am happy to count myself among them.”
“Exciting times require exciting people,” quipped Balakrishnan, adding: “Life begins at 30,” – a reference to the company’s age.
Independent director and chairman of the Nominations Committee Jeffrey Lehman said that they had been in conversation with Ann Fudge for over a year. “She is much in demand, and we are very excited that she could join us, as she is. All this completes the leadership structure that we set out to put in place.”
Murthy describe Fudge, who has been chairperson and CEO of Young and Rubicam from 2003 to 2006 as an outstanding corporate leader. “She will bring immense value to the board, particularly in strengthening our brand.”