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Narayana Murthy retires from Infosys

Written by: Staff
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Bangalore, Aug 20 (UNI) Bringing his illustrious corporate career to an end, IT major Infosys Chairman N R Narayana Murthy today retired from the service of the company, which he had launched as a small firm in the city in 1981 and took it to enviable heights in the last two and a half decades.

Mr Murthy turned 60 today and as per the company's corporate governance policy, he relinquished his executive post. However, he would continue as its non executive Chairman from tomorrow.

Life would be the same for Mr Murthy even after retirement as he would continue to be busy bee. ''I will continue to do what I have been doing. I am already on the board of some companies...I have joined some more. I travel abroad 20 to 22 days a month, I will continue to do that,'' he told UNI in an interview.

Mr Murthy, considered the czar of Indian software industry, launched Infosys with the help of a handful of friends with each of them contributing a sum of Rs 10,000. From its humble beginning, the company, under the able hands of Mr Murthy, grew to be the second biggest software exporter in India with a present market capitalistation of 21 billion dollars. The annual income had grown to 2.15 billion dollars with 98 per cent of its income coming from exports.

Infosys would now be headed by its senior most founding member Nandan Nilekani, who was the CEO and MD. No decision had been taken on appointment of the new Chairman, company sources said.

The IT major, which had started with a staff strength of just over a dozen people, now had more than 58,000 on its rolls in nearly 25 offices both in India and abroad.

UNI RS RG PV PC1648

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