N. R. Narayana Murthy appointed as Executive Chairman of Infosys

Infosys Ltd. has appointed N. R. Narayana Murthy into the Board and executive leadership of the company.K. V. Kamath has stepped down from his position as Chairman of the Board and took up the position of Lead Independent Director effective June 1st 2013.Mr Kamath said, “The Board has taken this step keeping in mind the challenges that the technology industry and the company face and in the interest of all stakeholders, particularly shareholders large and small, who have asked for strengthening of the executive leadership during this challenging time. Murthy’s entrepreneurial and leadership record and the long experience he has had as a technology pioneer make him eminently qualified to lead the company and provide strategic direction at this point in time.”Mr Murthy said, “This calling was sudden, unexpected, and most unusual. But, then, Infosys is my middle child. Therefore, I have put aside my plans-in-progress and accepted this responsibility. I am grateful to K. V. Kamath, the Chairman, the Board, and every Infoscion for giving me this opportunity. I intend to do my best to add value to the company in this challenging situation.”