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| Politics
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| Narayana Murthy appointed Infosys |
| Narayana Murthy appointed Infosys Executive Chairman
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| INDIA
, 1-June-2013
2:45:3 AM |
| Narayana Murthy is back at Infosys. The IT major has announced that he has been appointed Executive Chairman of the Board and Additional Director with effect from today.
K V Kamath, the Chairman of the Board, said in a press release that the Board has taken this step keeping in mind the challenges that the company is facing and in the interest of all stakeholders.
"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," he added
Mr Kamath, the statement said, would step down as Chairman of the Board and take up the position of Lead Independent Director.
Accepting the responsibility, Mr Murthy has said the calling was "sudden, unexpected, and most unusual" and added that he would "do my best to add value to the company in this challenging situation."
He also said, "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."
The press release said during his five year term, Mr Murthy would draw a token compensation of Rs. 1 per year
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