Advertisement

HindustanTimes Fri,22 Aug 2014

Murthy writes to Infosys staff to shore up morale

HT Correspondent, Hindustan Times   May 31, 2014
First Published: 00:14 IST(31/5/2014) | Last Updated: 00:16 IST(31/5/2014)

Infosys co-founder NR Narayana Murthy moved to reassure the company’s employees after a spate of senior-level exits created an atmosphere of uncertainty, with a letter to employees.

Advertisement

However, his comment that the “leadership changes” will be in the “best interest” of the company could equally be interpreted as a portent of more resignations to come.

The exodus of senior-level executives includes board members BG Srinivas, V Balakrishnan and Ashok Vemuri, all of whom were seen as front-runners for the CEO’s chair at Infosys, which falls vacant next January when SD Shibulal retires.

Srinivas resigned on Wednes­day, and is expected to join Hong Kong-based PCCW as group managing director.

“As you may have already heard, BG Srinivas has expressed his desire to pursue interests outside of Infosys. I hold BG in high esteem and I support his aspirations,” Murthy wrote. He added that Shibulal will manage Srinivas’ portfolio.

“The nominations committee’s selection process for the new leader is progressing as planned. The new CEO will be announced at the conclusion of this process,” Murthy said.

Murthy was pulled back from retirement last June and made executive chairman as Infosys steadily lost market share to TCS, HCL Tech and Cognizant.


Advertisement
more from Business

Sensex up 111 points in early trade; Nifty touches new peak

The benchmark BSE Sensex rose over 111 points and the NSE Nifty soared to a new life-time high of 7,924.90 in early trade on Friday as IT, oil and gas, power and consumer durable stocks led the rally on sustained capital inflows.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved