Infosys today announced that N R Narayana Murthy and S Gopalakrishnan will voluntarily step down as executive chairman and executive vice chairman of the company, respectively on June 14, 2014. In order to facilitate a smooth transition of responsibilities, they will continue on the board till Oct. 10, 2014 as the non-executive chairman and non-executive vice chairman, respectively.
Murthy will be designated as chairman emeritus with effect from Oct. 11, 2014 in recognition of his contributions to the company.
The company announced the selection of Dr Vishal Sikka as the chief executive officer and managing director (CEO & MD) of the company. Dr Sikka will be inducted as a whole-time director of the board and CEO & MD (designate) on June 14, 2014. He will take over as CEO & MD from S D Shibulal on Aug. 01, 2014.
''I am pleased with the selection of Vishal Sikka as our new CEO said executive chairman, N R Narayana Murthy. ''Vishal brings valuable experience as a leader of a large, global corporation. His illustrious track record and value system make him an ideal choice to lead Infosys. On behalf of all of us at Infosys, I would like to thank Gopalakrishnan, Shibulal and Batni for their contributions.''
''I would like to thank our clients, the members of the Board, all my colleagues at Infosys, ex-Infoscions, our investors, the media, and well-wishers of the company for their support and encouragement. I also want to thank the members of my office, the Chief Financial Officer and the head of Human Resources for their fabulous support through my second innings at Infosys,'' Murthy added.
Shares of the company gained Rs 43.35, or 1.36%, to trade at Rs 3,222.10. The total volume of shares traded was 74,801 at the BSE (9.50 a.m., Thursday).