Murthy to step down as Infosys chairman

Mr. NRN is going on retirement – as I wud like to call it, in Aug. as he stated referring to his age.

Don’t neglect the facts about Infy in the end 🙂

Here goes the news –

Murthy to step down as Infosys chairman

N R Narayana Murthy said he would step down as Chairman and chief mentor of Infosys Technologies Limited on August 20, the day he turns 60, and made it clear that he was ready to continue as non-executive chairman of the Nasdaq-listed software firm.

“I will be completing 60 years of age on August 20. If the Board of Directors in their meeting on July 10 and 11 would decide that I should continue as non-executive chairman for whatever term that they want me to be, I will be thrilled and privileged to continue in that capacity,” he said in response to questions after the company’s 25th Annual General Meeting.

At the same meeting, the Board of Directors would decide on the next chief mentor as the position has to be donned by an executive person, ‘somebody who comes to the office everyday and spends at least eight hours a day,’ he said.

The company was floated with a capital of Rs 10,000 in 1981. It clocked a revenue of USD 2.15 billion in 2005-06, and has today over 52,000 employees and a market capitalisation of around USD 20 billion.

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