In another rejig, Infosys dissolves Executive Council

Infosys has decided to dissolve its Executive Council and has instead appointed nine executive officers who will steer the company forward.

In a statement to the Securities Exchange Commission , the company said that the new team will have other members in addition to the existing co-founders of the company — Executive Chairman NR Narayana Murthy, Vice-Chairman S Gopalakrishnan and CEO SD Shibulal.

Apart from the co-founders, Srinath Batni, who is responsible for delivery and is a trustee with the Infosys Science Foundation, is a part of the executive officers’ committee. Newly appointed Presidents BG Srinivas and UB Pravin Rao and CFO Rajiv Bansal also figure in the nine-member executive officers’ list.

Only new face The only new face in the list is Parvatheesam Kanchinadham, who is the Chief Risk Officer and Company Secretary. Srikantan Murthy, who was the group head of education and research before being elevated to Senior Vice-President and Group Head of HR at Infosys, also figures in the list. All these appointments will be effective from April 1, the statement added.

The announcement came after market hours but Infosys stock closed 0.96 per cent higher at ₹3,259 on the BSE on Friday. The original Executive Council had 16 members. The company has been making a series of changes in its top management structure, after 9 senior level people quit since Murthy took charge.

“While the DNA of the company is good, Murthy believes that dismantling an old empire and rewarding employees who have a new vision will help the company go forward,” said Pradeep Mukherji, President and Managing Partner, Avasant APAC and Africa, a global management consulting firm.