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Leadership changes @Infosys: Pai out, Venkatesan in.

Mohandas Pai has resigned from India’s number 2 IT services company, Infosys --and from its Board of Directors -- after 17 years with the company.

Infosys said in a filing to the Bombay Stock Exchange "T V Mohandas Pai, has decided to relinquish the position of member of the board and has requested the board to relieve him of the responsibilities after the company''s annual general meeting on June 11, 2011”.

Pai, 52, who joined Infosys in 1994, said: "I stepped down in 2006 from the CFO position and now I handled this (HR Director). I handled a large portfolio and now I think it''s time for others to come up".



On the same day, April 15, former Microsoft India chairman Ravi Venkatesan was inducted into the board of directors of Infosys as an additional director of the company. Prior to joining Microsoft, Venkatesan worked for over 17 years with Cummins. See our earlier story: http://www.indiatechonline.com/ravi-venkatesan,-microsoft-india-27.php  

The announcements came on a day when Infosys’ said quarterly net profit jumped nearly 14 percent but lagged market expectations.

Consolidated net profit rose to Rs 18.2 billion ($408 million), below market forecasts of 18.8 billion rupees.

The filing before BSE also said: "The Board of Directors will meet on April 30, 2011 to finalise plans for the company''s leadership succession, post NR Narayana Murthy''s retirement as Chairman of the Board in August 2011". April 15 2011




    


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