New Infosys chairman to be named on July 11

Murthy, who will be 60 in August, will step down as chairman and chief mentor of the company he helped found in 1981.

The board of India's second-biggest software services exporter, Infosys Technologies Ltd, will name a successor to Chairman NR Narayana Murthy on July 11.

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Murthy, who will be 60 in August, will step down as chairman and chief mentor of the company he helped found in 1981. He is expected to continue as the company's non-executive chairman.

"My commitment to Infosys will continue and the future will be decided when the board meets on July 11," Murthy said at the annual shareholders' meeting in Bangalore on Saturday.

"I will be thrilled and privileged if the board asks me to continue as non-executive chairman, while the role of chief mentor would be going to a smarter person," he is reported to have said.

Nasdaq-listed Infosys , valued at nearly $17 billion, is the bellwether of India's booming software services industry.