Infosys BPO, subsidiary of Infosys, is on the lookout for a new CEO.
Talking to reporters at the third quarter results, V. Balakrishnan, Head of Infosys BPO, India Business Unit and Finacle, said that the current CEO Swami Swaminathan will retire in July.
Swaminathan, or Swami as he is popularly known, took over as CEO and Managing Director in January 2010. Since Swami’s assuming the post, the company has acquired companies abroad and has made it a global company with a diverse workforce. According to Infosys officials, 35 per cent of its current revenues come from development centres outside India where the company has 20 per cent of its workforce. In the fiscal 2012, Infosys BPO has revenues of $500 million and Infosys BPO operates in India, Czech Republic, Poland, Mexico, Brazil, the US, China, Philippines and Australia.
Sore point
While Infosys BPO has been growing at a clip of over three times its parent’s business, the company has had to resort to severe cost cutting exercises such as scrapping team building expenses, which has not gone down well with employees.
Further, Infosys has seen a spate of top management changes in the past few quarters. In the second quarter of FY 13, Rajiv Bansal was elevated to the post of CFO and Member of the Executive Council and V. Balakrishnan was given the task of heading Infosys’ India, BPO unit and Finacle. Similarly, in the first quarter, the company assigned new roles to B.G. Srinivas and Ashok Vemuri.
Srinivas was shifted from the manufacturing and engineering business to head the company’s FSI vertical, while Vemuri was asked to take charge of global head of manufacturing and engineering services.