Infosys Announces Appointment Of New Members To The Board
Bangalore, India - June 11, 2011: Infosys Technologies Limited today announced the induction of four new members to its Board.
Induction of Executive Officers to the Board
In the course of a meeting earlier today, the Nominations Committee ("the Committee") of the Company recommended the induction of Mr. V. Balakrishnan (Bala) - Chief Financial Officer; Mr. B. G. Srinivas (BG) - Senior Vice President and Head - Manufacturing, Product Engineering, Product Lifecycle and Engineering Solutions; and Mr. Ashok Vemuri (Ashok) - Senior Vice President and Head - Banking and Capital Markets and Strategic Global Sourcing.
The Board of Directors, in a meeting held after the Annual General Meeting (AGM), accepted the recommendations of the Committee and appointed them as Additional Directors. The new directors will hold office up to the date of the next AGM. At that point, their appointment as Whole-time Directors will be placed for approval of the shareholders.
Mr. N. R. Narayana Murthy, Chairman and Chief Mentor, said, "I am very happy that three outstanding Infoscions are joining the Board. I have worked with all the three closely and have benefitted immensely from their wisdom. My congratulations to them. I am confident that they will take our company to even greater heights."
Mr. S. Gopalakrishnan, Chief Executive Officer and Managing Director, said, "The induction to the Board of three highly competent professionals from within our ranks is a big step forward for Infosys. Apart from infusing new energy to the Board, these three appointments clearly demonstrate the Company’s commitment to recognize and reward outstanding leadership capability, hard work and performance".
Induction of Ms. Ann Fudge the Board
The Board also inducted Ms. Ann Fudge as an Additional Director of the Company. The appointment is effective October 1, 2011.
Ms. Fudge is a Non-Executive Director at Unilever, Novartis AG and at General Electric Co. She served on the Board of Honeywell International Inc. from 1993 to 2003 and served as the non-executive director of Marriott International Inc. from 2001 to 2003.
Ms. Fudge has served as the Chairperson and Chief Executive Officer of Young & Rubicam Brands from 2003 to 2006. Prior to joining Young & Rubicam, she worked at General Mills and at Kraft Foods, where she served in a number of senior management positions including President of Beverages, Desserts and Post Cereal Division.
Ms. Fudge is an Honorary Director of Catalyst, Trustee of Morehouse College, Rockefeller Foundation and Brookings, and Chairperson of the US Programs Advisory Panel of the Gates Foundation. She is also a Board Member on the Council of Foreign Relations and Buzzient, Inc. and Former Vice-Chairperson, Board Overseers of Harvard University.
Ms. Fudge earned her BA (Honours) from Simmons College and her MBA from the Harvard Business School.
Speaking on the occasion, Mr. N. R. Narayana Murthy, Chairman and Chief Mentor said, "Ann Fudge is a globally recognized and respected corporate leader. She will bring immense value to the board particularly in strengthening our brand. I am honored to welcome her to our board".
Outcome of the Annual General Meeting (AGM)
At the AGM held today, the members of the Company approved the following:
- Final dividend of 20/- per share. The final dividend will be paid to shareholders on June 13, 2011.
- Appointment of Mr. R. Seshasayee and Mr. Ravi Venkatesan as Directors of the Company, liable to retire by rotation.
- Change in the name of the Company from "Infosys Technologies Limited" to "Infosys Limited".