New faces to take over as Narayana Murthy-led Infosys gears up for massive overhaul

Feb 28 2014, 09:41 IST
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Starting from 2016, Infosys is likely to have fresh set of members on its board. Starting from 2016, Infosys is likely to have fresh set of members on its board.
SummaryWith some senior board members retiring by 2016, the giant is set for a facelift.

numerous exits, Murthy reiterated “there is considerable depth of leadership available within Infosys” and, hence, there was no crisis.

Infosys has provided a revenue growth guidance of 11.5-12% for FY14, which almost reaches the lower end of Nasscom estimate of 12-14% for the industry. The company had recorded a growth rate of 26% in FY11, which came down to 5.8% in FY13.

Murthy said the company is putting in best efforts to get back its operating profit margins to the earlier level through various initiatives, but did not provide any time frame. “There is a reasonable chance that will we reach the earlier position,” he added.

Infosys' operating profit margin fell from 29.5% in 2010-11 to 23.5% in Q3 of FY14 and Murthy rued the fact the company could not take advantage of the environment of a depreciating rupee, which is by and large beneficial to exporters.

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