Infosys CEO Selection Progressing As Planned: Narayana Murthy
Advertisement
BANGALORE: Infosys executive chairman NR Narayana Murthy said the selection process for the new CEO is progressing as planned and the name of the candidate would be announced when the process concludes.
“The selection process for the new leader is progressing as planned. The new CEO will be announced at the conclusion of the process. While the search is on, Infosys Board, Shibu, Kris and myself will continue to steer the company in the direction we have set. I assure the best of Infosys is yet to come,” he said in an email sent to employees on Friday.
The communication comes at a time when the management is making every effort to reassure employees and clients a smooth leadership transition as it is in the midst of identifying itsfirst non-founder CEO . “Further to my previous email, as we embark into newer horizon for our employees and clients, we will see some transition in leadership. Please be assured that the leadership change takes into account the best interest of the company as a whole,” he wrote in the email. The communication is seen as an attempt to quell uncertainties around its leadership challenges after eleven senior executives quit Infosys since Murthy returned to the company in June last year.
Murthy has also recognized BG Srinivas’s contribution in growing the company. “ I hold BG in high esteem and I support his aspirations. His last day will be June 10, 2014,” Murthy said. He also said the BG Srinivas is an integral part of the company and has played an important role in the second-largest IT firm.
Srinivas, who quit Infosys on Wednesday, was appointed as the group managing director and executive director of Hong Kong-based telecom and media giant PCCW effective July 14. He will be entitled to a basic salary of approximately US$1.14 million (equivalent to approximately HK$8.84 million) per year, plus a housing allowance and a non-discretionary annual bonus of $1,80,000 (equivalent to approximately HK$1.4 million).
Advertisement
Advertisement
“The selection process for the new leader is progressing as planned. The new CEO will be announced at the conclusion of the process. While the search is on, Infosys Board, Shibu, Kris and myself will continue to steer the company in the direction we have set. I assure the best of Infosys is yet to come,” he said in an email sent to employees on Friday.
The communication comes at a time when the management is making every effort to reassure employees and clients a smooth leadership transition as it is in the midst of identifying its
Murthy has also recognized BG Srinivas’s contribution in growing the company. “ I hold BG in high esteem and I support his aspirations. His last day will be June 10, 2014,” Murthy said. He also said the BG Srinivas is an integral part of the company and has played an important role in the second-largest IT firm.
Srinivas, who quit Infosys on Wednesday, was appointed as the group managing director and executive director of Hong Kong-based telecom and media giant PCCW effective July 14. He will be entitled to a basic salary of approximately US$1.14 million (equivalent to approximately HK$8.84 million) per year, plus a housing allowance and a non-discretionary annual bonus of $1,80,000 (equivalent to approximately HK$1.4 million).
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market