After Tata group's annoucement to start operation search in order to find the possible replacement of their chairman Ratan Tata, Infosys Technologies will begin the task of finding a replacement for its chairman and chief mentor, NR Narayana Murthy from January next year. Murthy to step down on next year August after he turns 65.
Infosys’ nominations committee has ICICI Bank non-executive chairman KV Kamath, Cornell University professor Jeffrey Sean Lehman and HDFC Standard Life Insurance CEO Deepak M Satwalekar as its members. They have already started discussions to find the head of Infosys.
The committee has already had five meetings during the year that ended April 2010, three more than what is required under law.
Murthy, who founded Infosys along with six others in 1981, quit as executive chairman when he turned 60 in 2006. The company has been preparing for its biggest leadership transition since then. It is said that the deliberations started a few quarters back, and in any case, Mr Murthy’s retirement particularly has been on the agenda for a long time. Since the day is coming close, there’s an obvious intensity.Mr Murthy and his co-founders, Nandan Nilekani, Kris Gopalakrishnan, SD Shibulal, K Dinesh and SK Arora, have had tremendous success in the past 30 years. They have set up the company with money borrowed from their wives.
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