Chairman KV Kamath quits Infosys. R Seshasayee to take over

KV Kamath, President of the new $100-billion BRICS Bank has given up his position as non-executive chairman at Infosys. Ashok Leyland Vice-Chairman R Seshasayee is set to take his place.

Kamath replaced founder NR Narayana Murthy as the company's chairman in August 2011. He has played a crucial role in the succession planning in the company since he took over.

"The Board of Directors accepted K.V. Kamath's resignation from his position as Chairman of the Board and as an Independent Director of the Company with immediate effect, consequent to his nomination as the President of the BRICS New Development Bank," Infosys has reported in an filing to the exchanges.

Seshasayee’s appointment would be effective immediately.

(Image credit: Indiatimes)