N R Narayana Murthy is set to step down as Infosys Executive Chairman. However, he will be designated as Chairman Emeritus.
Vishal Sikka, a former SAP board member, has been appointed as CEO and managing director of Infosys.
Infosys today said NR Narayana Murthy and S Gopalakrishnan will voluntarily step down as executive chairman and executive vice chairman, respectively, on June 14, 2014.
In order to facilitate a smooth transition of responsibilities, they will continue on the Board till October 10, 2014 as the non-executive chairman and non-executive vice chairman, respectively
KV Kamath will become the non-executive chairman of the Board on October 11, 2014.
Murthy, the co-founder of Infosys, will be designated as Chairman Emeritus with effect from October 11, 2014 in recognition of his contributions to the company.
SD Shibulal will step down as CEO & MD and from the Board on July 31, 2014. According to earlier reports, his term was expected to end in early 2015.
Srinath Batni, whole-time director of the company, will step down from the Board on July 31, 2014.
In addition, the company has elevated twelve leaders to the position of executive vice president with additional responsibilities
Rohan Murty, whose appointment was co-terminus with the executive chairman, will leave the company on June 14, 2014. The remaining members of the Chairman’s office will take up other responsibilities in the company.