Infosys appoints Nilekani as non-executive chairman

 

Infosys appoints Nilekani as non-executive chairman

Bengaluru - He was most recently the chairman of the Unique Identification Authority of India

By Web Report

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Published: Thu 24 Aug 2017, 7:16 PM

Last updated: Mon 28 Aug 2017, 6:08 PM

Infosys co-founder Nandan Nilekani on Thursday returned to the global software major as non-Executive Chairman of the Board with immediate effect.

"The Board of Directors has appointed Nandan Nilekani as a non-executive, non-independent Director and as the Chairman of the Board of Directors," said the IT major in a regulatory filing on the BSE.

The Board accepted the resignation of R. Seshsayee as its Chairman and as a Director on the Board with immediate effect.

It also accepted the resignation of Co-Chairman Ravi Venkatesan with immediate effect though he continues as an Independent Director.

The Board accepted the resignation of Executive Vice-Chairman Vishal Sikka and as a Director on the Board with immediate effect.

Resignations of Directors Jeffery S. Lehman and John Etchemendy were also accepted with immediate effect.

Nilekani, who was CEO of Infosys from March 2002 till April 2007, quit the company a decade ago to head the Unique Identification Authority of India (UIDAI).

Sikka said, "Last week I said that my remaining on the Infosys board was to primarily enable a smooth transition. In Nandan, we have found an ideal leader to manage this transition. "I welcome Nandan's appointment as Chairman to help guide Infosys to new frontiers of success and wish him, Pravin and all Infoscions the very best in the times ahead."

Profile

Nandan Nilekani was most recently the chairman of the Unique Identification Authority of India (UIDAI) in the rank of a Cabinet Minister. UIDAI aims to provide a unique identification number for all residents of India.

He resigned from this post in March 2014 to contest the 16th Lok Sabha election from the South Bangalore constituency.

Nilekani was previously the Co-Chairman of the board of directors of Infosys Technologies Limited, which he co-founded in 1981.

Serving as a director on the company's board since its inception to July 2009, he has held various posts at Infosys, including those of Chief Executive Officer and Managing Director, President, and Chief Operating Officer.

Born in Bengaluru, Nilekani received his bachelor's degree in electrical engineering from the Indian Institute of Technology, Bombay. The Fortune Magazine conferred on him the 'Asia's Businessman of the Year' honour in 2003. He was named 'Corporate Citizen of the Year' at the Asia Business Leaders Award, 2004. In 2005, he received the prestigious Joseph Schumpeter prize for innovative services in economy, economic sciences, and politics.

In 2006, he was awarded one of India's highest civilian honours, the Padma Bhushan. In the same year, Nilekani was named 'Businessman of the Year' by Forbes Asia. The Time magazine listed him as one of the 100 most influential people in the world in 2006 and 2009. He is the author of 'Imagining India' that discusses his ideas for India's future.

Quitting Infosys one of hardest decisions of my life: Sikka

Technocrat Vishal Sikka termed his dramatic resignation as CEO of the global software major Infosys as one of the hardest decisions of his life.

"It was one of the hardest decisions of my life, but I feel that it had to be done," Sikka, 50, told 'Forbes India' in his first interview since his decision to quit on August 18 caught stakeholders unawares and tanked the IT major's stock to a three-year low of Rs 884.20 on the bourse.

Though the company's Board accepted Sikka's resignation, it appointed him as Executive Vice-Chairman on an annual salary of $1 till the new CEO takes over by March 31, 2018.



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