Infosys Announces Changes to Board Of Directors
Bangalore – December 20, 2013: Infosys, a global leader in consulting, technology and outsourcing solutions, today announced the following changes to the Board of Directors.
Resignation of Mr. V. Balakrishnan
Mr. V. Balakrishnan has conveyed his intention to resign as a Member of the Board and from the services of the Company. The resignation is effective December 31, 2013.
The Board places on record deep sense of appreciation of the services rendered by Mr. V. Balakrishnan during his tenure as the Member of the Board, Chief Financial Officer of the Company and then as the Member of the Board in-charge of Infosys BPO, Lodestone, Finacle, India Business Unit and Global Immigration.
Mr. N. R. Narayana Murthy, Executive Chairman said, “Bala has been an early adopter and a keen anchor-builder of Infosys. It is difficult to imagine Infosys without Bala’s passion, commitment, and intellect. The Board and every Infoscion thank Bala for his wonderful contribution and wish him great success in his future endeavors.”
Mr. S. D. Shibulal, Chief Executive Officer and Managing Director said, “Bala during his two decades of association with Infosys, has played a pivotal role in building the finance function and has been a key driver behind all of our achievements in areas of investor relations and corporate governance. Over the last few years, he has also provided leadership to BPO, Finacle, India Business Unit, Global Immigration and most recently, to Lodestone. I would like to wish him the very best in all his future endeavors.”
Balakrishnan said, “I have enjoyed every moment of my stint at Infosys and it was a great learning experience. While my heart will always be with Infosys my mind wants to do something beyond Infosys. I thank all my colleagues who supported and encouraged me during my career at Infosys. I wish Infosys all the very best in its future endeavors.”
Induction of Mr. U. B. Pravin Rao as a Whole-time Director
The Nominations and Governance Committee of the Company recommended the induction of Mr. U. B. Pravin Rao as a Whole-time Director of the Company.
Mr. Pravin Rao is currently a Member of the Executive Council, Senior Vice President and Global Head–Retail, Consumer Packaged Goods, Logistics and Life Sciences. Mr. Rao also serves as a Member of the Board of Infosys Lodestone. Mr. Rao is also the Director of the Infosys Leadership Institute (ILI).
Mr. Rao holds a degree in electrical engineering from Bangalore University, India.
Welcoming Mr. Pravin Rao, Mr. N. R. Narayana Murthy, Executive Chairman said, “I am very happy that Pravin will be joining the Board. I have worked with Pravin closely and have benefited immensely from his wisdom. My congratulations to him.”
Induction of Ms. Kiran Mazumdar-Shaw as an Independent Member of the Board
The Nominations and Governance Committee of the Company recommended the induction of Ms. Kiran Mazumdar-Shaw as an Independent Member of the Board.
Ms. Kiran Mazumdar-Shaw is the Chairman & Managing Director of Biocon Limited, a biotechnology company based in Bangalore, India.
Ms. Shaw is highly respected in the corporate world and has been named among TIME magazine’s 100 most influential people in the world. Recently, Economic Times placed her at India Inc’s top 10 most powerful women CEO for the year 2012. Her pioneering efforts in biotechnology have drawn global recognition both for Indian Industry and Biocon.
Ms. Shaw received a graduate honors degree in Zoology from Bangalore University (1973) and qualified as a Master Brewer from Ballarat University, Australia (1975). Ms. Shaw has also received many honorary Doctorates in recognition of her pre-eminent contributions to the field of biotechnology.
Welcoming Ms. Shaw, Mr. N. R. Narayana Murthy, Executive Chairman said, “Kiran is a well-recognized and respected corporate leader. She will bring immense value to the Board. I am honored to welcome her to our Board.”
The Board of Directors will adopt appropriate resolutions on the above recommendations of the Nominations and Governance Committee, at the meeting scheduled for January 10, 2014.