B G Srinivas who resigned as President and Executive Director of software and services giant Infosys Ltd after a 15-year stint on Wednesday, is slated to take over as group managing director of business conglomerate PCCW Ltd.
Hong-Kong based PCCW said on Thursday that Srinivas would take over as its Group Managing Director with effect from July 14, 2014. He will succeed George Chan, who will retire as Group Managing Director of PCCW on July 7.
Richard Li, Chairman of PCCW, said in a statement, "On behalf of the board of directors, I warmly welcome Srinivas. I am confident that his immense IT knowledge, experience in service-oriented organisations, leadership skills and international perspective will provide PCCW Group with additional momentum. He will develop both its media and IT businesses locally and internationally."
With revenues of over $3.5 billion in 2013, PCCW has interests in telecommunications, media, IT solutions, property development and investment, and other businesses.
Srinivas' resignation is the tenth top-level exit from Infosys since the return of co-founder N R Narayana Murthy at the helm of affairs in June last year.
At Infosys, Srinivas led key portfolios like financial services, manufacturing and public services. He was also the firm's highest-paid executive (annual compensation of Rs 7.52 crore in 2013-14 fiscal).
Srinivas, who joined Infosys in 1999, was elevated to the post of President in January.
He holds a degree in mechanical engineering from Bangalore University and has participated in executive programmes at Wharton Business School and Indian Institute of Management, Ahmedabad.
Srinivas is slated to get a basic salary of about $1.14 million a year, along with housing allowance and non-discretionary annual bonus of $180,000.
In addition, he will also be entitled to performance- related cash and share based compensation, subject to the achievement of performance targets.