Infosys Gears Up To Find New CEO
In the last one year, Infosys has seen a spate of senior level exits in the organization. The second largest IT services company announced that it has set the ball rolling for finding the new CEO after the retirement of its current CEO & MD SD Shibulal, who has sought an early retirement before his superannuation in March 2015.
“The Nominations Committee of the company’s Board of Directors has begun the search to select the successor to Mr. S.D. Shibulal, CEO and MD,” the company said in a statement. The Nominations Committee, according to Infosys will shortlist and evaluate an internal slate of candidates with the assistance of Development Dimensions International (DDI), a company specializing in corporate executive evaluations.
The Board has also appointed Egon Zehnder, an executive search firm, to assist the Nominations Committee in identifying external candidates. The multinational executive search firm has assisted Kodak with its CEO search, and is reportedly helping Tata Motors find a successor for MD Karl Slym after his death, says a media report.
Of the internal candidates, top runners for the post are the company’s two presidents - B G Srinivas and UB Pravin Rao. The other three potential candidates for the CEO’s job - Ashok Vemuri and V Balakrishnan already quit the company last year. Infosys Co-Founder and Executive Chairman N R Narayana Murthy has also said the company would be open to an external candidate.
Experts observe for the first time since its inception over thirty years ago, Infosys will have a non-founder CEO after Shibulal’s retirement. In other words, by the end of 2015, Infosys will for the first time have a board without any of its founding members. Until now, the CEO position at the company has been held by it co-founders - N.R. Narayana Murthy, followed by Nandan Nilekani, Kris Gopalakrishnan and now Shibulal. The new CEO will make the record of being the first ever non-founder Chief of Infosys.
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