Infosys CEO Selection Progressing As Planned: Narayana Murthy

BANGALORE: Infosys executive chairman NR Narayana Murthy said the selection process for the new CEO is progressing as planned and the name of the candidate would be announced when the process concludes.

“The selection process for the new leader is progressing as planned. The new CEO will be announced at the conclusion of the process. While the search is on, Infosys Board, Shibu, Kris and myself will continue to steer the company in the direction we have set. I assure the best of Infosys is yet to come,” he said in an email sent to employees on Friday.

The communication comes at a time when the management is making every effort to reassure employees and clients a smooth leadership transition as it is in the midst of identifying its first non-founder CEO. “Further to my previous email, as we embark into newer horizon for our employees and clients, we will see some transition in leadership. Please be assured that the leadership change takes into account the best interest of the company as a whole,” he wrote in the email. The communication is seen as an attempt to quell uncertainties around its leadership challenges after eleven senior executives quit Infosys since Murthy returned to the company in June last year.

Murthy has also recognized BG Srinivas’s contribution in growing the company. “ I hold BG in high esteem and I support his aspirations. His last day will be June 10, 2014,” Murthy said. He also said the BG Srinivas is an integral part of the company and has played an important role in the second-largest IT firm.

Srinivas, who quit Infosys on Wednesday, was appointed as the group managing director and executive director of Hong Kong-based telecom and media giant PCCW effective July 14. He will be entitled to a basic salary of approximately US$1.14 million (equivalent to approximately HK$8.84 million) per year, plus a housing allowance and a non-discretionary annual bonus of $1,80,000 (equivalent to approximately HK$1.4 million).