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.
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.