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NARAYANA MURTHY RETURNS TO INFOSYS AS EXECUTIVE CHAIRMAN


The Infosys Board has
appointed N. R. Narayana Murthy as Executive Chairman of
the board for a five-year term,with immediate effect.
K. V. Kamath will step down as Chairman of the board and take
his position as lead
independent director from today, the company said in a
statement to the BSE.
Responding to the development
Narayana Murthy said, "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 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.”
During his term, Murthy will draw a compensation of Re 1 a year. S. Gopalakrishnan,
who was serving as the Executive Chairman, would be
re-designated Executive Vice-Chairman and would primarily focus on key client relationships
and broader industry issues, the statement said.
S. D. Shibulal would continue to be the Managing Director and CEO of the company, it said.
In August 2011 Kamath was appointed Chairman,
succeeding Murthy, who was made the Chairman Emeritus
post his retirement. Also, the then CEO and MD S.Gopalakrishnan (Kris) was elevated as the executive co-
Chairman, while COO S. D.Shibulal filled in Kris’ position.
The re-shuffle also marks the entry of the next generation of
Infosys founder with Murthy’s son, Rohan, joining the over $7-
billion firm as his father’s executive assistant.