Exodus or purge? Infosys bleeds more executives
At least four top-level executives have left India’s sagging No. 2 software exporter since the return from retirement last June of its iconic co-founder NR Narayana Murthy as its executive chairman.business Updated: Nov 20, 2013 01:41 IST
Is it the heat to turn up the performance? Or is it a blockage of career growth? Whatever the motive, the hard reality is that Infosys is witnessing an unprecedented exodus – or purge – at senior levels.
At least four top-level executives have left India’s sagging No. 2 software exporter since the return from retirement last June of its iconic co-founder NR Narayana Murthy as its executive chairman.
The latest is Stephen Pratt, US-based head of utilities and resources for North America. Board member Ashok Vemuri, US-based head of financial services business Sudhir Chaturvedi and global sales head Basab Pradhan are others.
Head-hunters told Hindustan Times that several hundred mid-senior level executives in the 160,000-strong Infosys army are actively scouting for change– ranging from project managers to vice-president-level officials.
“We are in touch with a whole bunch of Infosys executives,” a recruitment industry executive said, requesting anonymity. He added they were regularly updating their resumes in a sign of serious intent to seek change.
“Infosys was falling behind growth parameters during the last fiscal and now is the time to clean up. In this scenario a lot many people will not fit in and will want to move out,” said a former Infosys high-flier, adding, however, that not all would be under-performers. “A lot many quit when they feel that their professional growth is being stifled in the new set-up.”
“Senior level exits remain a concern with Infosys,” said Ankita Somani, analyst at brokerage firm Angel Broking.
Infosys did not immediately respond to a request for its views on the issue.