Thanks and goodbye! Narayana Murthy and Infosys ( Murthy photo courtesy Times of India)
Nostalgia rules , as Narayana Murthy addresses his last Infosys AGM
There were nostalgic, heart-tugging moments on Saturday ( June 11) as Infosys Founder and Chairman N R Narayana Murthy presided for the last time over the annual general meeting Infosys , he company he cofounded 30 years ago. "My role as chairman of the board concludes on August 20, 2011, the day I reach the age of 65. This is in keeping with the policy I laid down in 1981”.
"It is not easy for me to deliver my last address at this forum. As I speak, a mosaic of images from the past whiz through my mind. The list seems endless and it would be difficult to narrate them all today…Going from the first major client win of Data Basics Corporation to 600-plus clients today, and from a small rented office space in Pune to over 60 development centres worldwide occupying over 27 million square feet has been exhilarating as well as humbling”.
"My colleagues say that Infosys is an inseparable part of me and I am an inseparable part of Infosys... I have rejoiced in every significant milestone of the company. I have commiserated in every false step that this company has taken…The best analogy that I can think of for this separation is that of one's daughter getting married and leaving her parent's home.Yes, the parents will be there when she needs them and they will be happy that she is starting a new life in an exciting new environment”.
“As I close, I thank God, this country, this world, family, relatives and friends for helping me, an average person with many below-average attributes - to add whatever little value I have to this country and to the world", Murthy said to a standing ovation in Bangalore's Christ University Auditorium.
Murthy’s successor is KV Kamath who will take over as the non-executive chairman from August 21. S D Shibulal, one of the co founders will be the new CEO of the company, taking over from S (“Kris”) Gopalakrishnan who will become the executive chairman of the company. Infosys has 450,000 shareholders and 130,820 employees Infosys Technologies Limited today announced the induction of four new members to its Board: V. Balakrishnan- Chief Financial Officer; B. G. Srinivas- Senior Vice President and Head - Manufacturing, Product Engineering, Product Lifecycle and Engineering Solutions; and . Ashok Vemuri - Senior Vice President and Head - Banking and Capital Markets and Strategic Global Sourcing – together with the widely expected induction of the first female member of the board: Ann Fudge ( Non-Executive Director at Unilever, Novartis AG and at GEC) as an Additional Director from October 1. Ms. Fudge is an Honorary Director of Catalyst, Trustee of Morehouse College, Rockefeller Foundation and Brookings, and Chairperson of the US Programs Advisory Panel of the Gates Foundation.
One resignation was announced : Subhash Dhar the Senior Vice President and Corporate Head (Innovations) and Group Head of Sales and Marketing, has decided to leave the company and is said to be looking at becoming an entrepreneur.
At the AGM on Saturday, the company also announced Change in the name of the Company from “Infosys Technologies Limited” to “Infosys Limited”. June 11 2011