Murthy’s still mentor, Nilekani to be CEO & MD

BANGALORE: Contrary to popular expectations, NR Narayana Murthy, the iconic Infosys founder-chairman, who a week ago donned the garb of editor-in-chief of The Economic Times, will continue as the company’s chief mentor.

Infosys on Wednesday announced that Mr Murthy, who turns 60 on August 20, ’06, has been appointed as non-executive chairman of the board and chief mentor with effect from August 21, ’06, while also becoming an additional director of the company. The Infosys chairman had, at the company’s 25th annual general meeting, said that he would be stepping down from the executive role as per the company’s regulations, paving the way for younger people to run the organisation.

Nandan Nilekani, currently the CEO, president and managing director, has been redesignated as the CEO and MD, while S Gopalakrishnan, currently the COO and deputy managing director, has been redesignated as the president, chief operating officer and joint managing director. These changes will be effected from August 21, ’06. TV Mohandas Pai, head of HRD and education & research, said: “Nandan is the senior-most person in the company and that is the reason for his redesignation.”

Asked why the position of an executive chairman was being left vacant, he said: “We don’t have an executive chairman.” Deepak Satwelekar, managing director, HDFC Standard Life, and an independent member of the board, said: “Mr Murthy will continue his role as chief mentor and be devoted to the challenging role of taking his company to the next level.”