Bangalore, June 1: In a major move taken by the Information Technology (IT) giant Infosys, Narayana Murthy once again has been appointed as Executive Chairman of the company. The company in an official statement said Murthy has been re-appointed as Executive Chairman of the Board and Additional Director with effect from June 1, 2013.
65-year-old KV Kamath would resign from his post as Chairman of the Board. However, he would take up the position of Lead Independent Director effective June 1, 2013, said the company release.
Speaking about the sudden decision taken by the company, Murthy was quoted as saying, This calling was sudden, unexpected, and most unusual. But, then, Infosys is my middle child. Therefore, I have put aside my plans-in-progress and accepted this responsibility."
"I am grateful to Mr K V Kamath - the Chairman, the Board, and every Infoscion for giving me this opportunity. I intend to do my best to add value to the Company in this challenging situation,' he added.
Meanwhile, Kamath said, "The Board has taken this step keeping in mind the challenges that the technology industry and the company faces and in the interest of all stakeholders, particularly shareholders large and small, who have asked for strengthening of the executive leadership during this challenging time."
"Murthy's entrepreneurial and leadership record and the long experience he has had as a technology pioneer makes him eminently qualified to lead the company and provide strategic direction at this point in time," added Kamath while speaking to a daily.
Narayana Murthy's son Rohan Murty too would join the company.
<blockquote class="twitter-tweet blockquote"><p>Narayanamurthy's son Rohan Murty is joining Infosys too--this is collapsing all rules, so called best practices that Murthy was proud if</p>— pankaj mishra (@pankajontech) <a href="https://twitter.com/pankajontech/status/340708760332939264">June 1, 2013</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
Official press release of Infosys said, Narayana Murthy intended to create Chairman's office to assist him during his tenure. His son Rohan Murty would be his executive assistant.