Narayana Murthy needs 36 months to rebuild Infosys

Bangalore, June 15: NR Narayana Murthy, Executive Chairman of Infosys today told the company's annual general meeting that the task of rebuilding a desirable Infosys will take at least 36 months. He said during last two years focus on core business was blurred and emphasised the need to focus on employees and take quick and firm decisions.

"We need to exceed expectations of customers. We are optimistic," he said. Murthy, 66, retired from Infosys in 2011 but returned on June 1 after halting performances for two years by a company that had earned a reputation as the industry's leader for both growth and profitability.

Outgoing chairman KV Kamath said Murthy will provide strategic direction to the global software major on return as executive chairman, said Saturday.

"Murthy, who has consented to be executive chairman again, will guide the company when the industry is facing challenges of an inflexion point in the technology business and provide strategic direction at this point of time," Kamath said at the company's 32nd AGM on Saturday.

Addressing shareholders, Kamath said Murthy's entrepreneurial and leadership record, coupled with his long experience as a technology pioneer, made him eminently qualified to lead Infosys again.

"Murthy has always been pro-active in his leadership as one of the key figures in shaping the future of our industry. I am sure we will again see an Infosys which is pro-active in everything it does as an industry leader," Kamath said.

Murthy made his first significant move upon returning to Infosys by effecting an unexpected round of wage increases for the company's 1.5 lakh employees. Earlier this week, Infosys announced that it will increase the fixed component of salaries, helping reduce uncertainty for employees by giving them a higher guaranteed pay.

With agencies inputs