Infosys executive chairman Narayana Murthy said the selection process of company’s new CEO is on track and the company expects to name a successor to SD Shibulal.
“The nominations committee’s selection process for the new leader is progressing as planned. The new CEO will be announced at the conclusion of the process,” he said in an e-mail to employees.
His communication to employees comes in the backdrop of a number of top-level exits at the Bangalore-based company. This has led to calls for fast-tracking the CEO selection process. The tenure of Mr. Shibulal ends early next year.
The company’s “prolonged search” for a chief executive officer is creating “stress” among Infosys employees, said V Mohandas Pai, who is a former CFO and human resources head of Infosys.
The latest high profile executive to quit Infosys is BG Srinivas, who was seen as a contender for the CEO’s position. Board member and president BG Srinivas announced his resignation on Wednesday. He would be joining Hong Kong-based information and communications technology PCCW as its group managing director.
In the e-mail, Mr. Murthy praised the contribution of Mr. Srinivas to Infosys “I hold BG in full esteem and I support his aspirations. BG has been an integral part of our organization and has played an important role in Infosys growth story,” Mr. Murthy said.
After Mr. Murthy’s return to the Infosys helm in June last year, he undertook a restructuring exercise to lift the company’s growth which had fallen behind some of its rivals. “As we embark onto newer and better horizons for our employees and clients, we will see some transition in leadership. Please be assured that these leadership changes take into account the best interest of the company as a whole,” Mr. Murthy said.
