Infosys chairman NR Narayana Murthy said on Wednesday that the new chief executive officer at the IT major will be in place by March 2015, once the term of SD Shibulal ends.
NR Narayana Murthy said he would assist the transition process, and will be in the company to help the new CEO.
The new CEO is most probably going to be an internal candidate with the two strong contenders being BG Srinivas and UB Pravin Rao, who were recently elevated as presidents. Early indications are that BG Srinivas is the strongest contender, though the company has not ruled out searching for an external candidate. NR Narayana Murthy said there was unlikely to be any change in the company’s current growth strategy even when the new CEO arrives.
Infosys, under the leadership of Shibulal, went about strongly advocating the 3.0 strategy that talked about the next level of business for the IT major in the areas of consulting, products & platforms and system integration. NR Narayana Murthy acknowledged that they would continue with this strategy, while admitting that the company had lost focus on the large deals in the traditional line of businesses.
Growth Markets Unit head cuts his stake in company
Dheeshjith VG, Infosys leadership team member and head of Asia Pacific, West Asia and Africa, on Wednesday said that he has sold a little more than 6,300 shares, worth R2.33 crore, in the company. With this transaction, Dheeshjith’s stake in the IT major has come down to 0.050%, from the 0.052% he held earlier.
In a management rejig announced last September, Infosys expanded Dheeshjith’s role and made him the head of a newly-created unit called Growth Markets Unit. Currently, all the heads of operations in Australia, New Zealand, Japan, China, West Asia, Southeast Asia, France and Germany comes under Growth Markets Unit and report to Dheeshjith.