<div>Infosys today named former SAP executive board member Vishal Sikka as its new chief executive officer, the first time the nation's second-largest software services exporter will have a non-founder as CEO.<br /><br /><div>Sikka, 47, will replace S D Shibulal, one of the seven engineers who founded Infosys in 1981, from August 1, Infosys said in a statement.<br /><br /></div><div>Also, the firm's Executive Chairman N R Narayana Murthy and Executive Vice Chairman S Gopalakrishnan will step down on June 14. Murthy will be designated as chairman emeritus from October 11.<br /><br /></div><div>Sikka, who will also be the company's MD, quit SAP in May. He comes in at a time when Infosys has had four straight years of narrowing margins. Besides, almost a dozen senior executives have left since last year when co-founder Murthy returned as chairman.<br /><br /></div><div>Murthy brought his son Rohan as his executive assistant.<br /><br /></div><div>Infosys said the chairman's office would be dissolved and Rohan would leave the company on Saturday, when the company will hold its annual shareholders meeting in Bangalore.<br /><br /></div><div>A Stanford University computer science Ph.D graduate, Sikka oversaw the development of new products, including a platform for quickly analysing large databases as the chief technology officer at SAP, the world's largest maker of business-management software.<br /><br /></div><div>His appointment brings down the curtain on a year of suspense, which saw an 11 senior level exists since June last year, when Murthy was brought back from retirement to head the company and put it back on a high-growth trajectory at a time when peers like TCS and HCL Tech were out-performing Infosys.<br /><br /></div><div>Analysts feel that his appointment to the corner office at the company will end the uncertainty at the Bangalore-based firm.<br /><br /></div><div>The Infosys scrip was down 0.19 per cent on the BSE in the afternoon trade. <br /><br /><div>"Dr Sikka will be inducted as a whole-time director of the Board and CEO & MD (Designate) on June 14, 2014. He will take over as CEO & MD from S D Shibulal on August 1, 2014," the Infosys statement said.</div><div>Infosys has also elevated UB Pravin Rao, President and whole-time director, as Chief Operating Officer, with effect from June 14.<br /><br /></div><div>Sikka, who was previously a member of the Executive Board of German tech giant SAP, was responsible for all products, from traditional and cloud-based applications to technology and platform products including HANA, analytics, mobile and middleware.<br /><br /></div><div>In addition, he led multiple initiatives to accelerate innovation and research at SAP. He holds a Ph.D in computer science from Stanford University, USA.<br /><br /></div><div>"I am honoured to lead Infosys, an iconic company built by pioneers in the technology industry. Computing technology is reshaping every industry across every walk of life. We, at Infosys, have a unique opportunity to deliver breakthrough solutions that will bring greater value to our clients, employees, investors and other stakeholders," Sikka said.<br /><br /></div><div>Infosys said veteran banker K V Kamath will become the Non-executive Chairman of the Board on October 11, while Murthy will be designated as Chairman Emeritus in recognition of his contributions to the company.<br /><br /></div><div>Other changes include Srinath Batni, a whole-time Director stepping down from the Board on July 31, and elevation of 12 leaders to the position of Executive Vice President with additional responsibilities.<br /><br /></div><div>On Sikka’s appointment, Vice-President & regional director at Gartner India Partha Iyengar told PTI: "The key thing is that uncertainty has ended. The first few months of Murthy's comeback were spent unravelling the product strategy and then parallely handling these exits.<br /><br /></div><div>"I can’t say for sure but the wrath of departures brought in a sense of urgency in announcing the next CEO. It is probably the best news in a long time."<br /><br /></div><div>Angel Broking’s VP Research Sarabjit Kour Nangra said the entry of a CEO into the company is the much awaited news as it has been searching for the chief, while facing the exodus of key employees. <br /><br /><div>"Now with a new CEO, with proven credentials, we believe that the news is positive for the company’s growth prospects," Nangra said.<br /><br /></div><div>Murthy was brought back from retirement in June last year as Executive Chairman to turn around the company, which was once the IT bellwether.<br /><br /></div><div>Over the last two years, it has lagged behind industry peers like TCS and HCL Technologies, which have been showing stellar performance on strong recovery in demand for outsourcing services.<br /><br /></div><div>"Vishal brings valuable experience as a leader of a large, global corporation. His illustrious track record and value system make him an ideal choice to lead Infosys," Murthy said.<br /><br /></div><div>Today’s development is expected to put to rest the uncertainties around the company’s CEO selection which in the recent past had triggered a slew of exits including many senior leaders such as B G Srinivas, the then president, and Ashok Vemuri who was then heading North America and manufacturing vertical in the role of a senior vice president and board member. </div></div></div></div>
<div>Infosys today named former SAP executive board member Vishal Sikka as its new chief executive officer, the first time the nation's second-largest software services exporter will have a non-founder as CEO.<br /><br /><div>Sikka, 47, will replace S D Shibulal, one of the seven engineers who founded Infosys in 1981, from August 1, Infosys said in a statement.<br /><br /></div><div>Also, the firm's Executive Chairman N R Narayana Murthy and Executive Vice Chairman S Gopalakrishnan will step down on June 14. Murthy will be designated as chairman emeritus from October 11.<br /><br /></div><div>Sikka, who will also be the company's MD, quit SAP in May. He comes in at a time when Infosys has had four straight years of narrowing margins. Besides, almost a dozen senior executives have left since last year when co-founder Murthy returned as chairman.<br /><br /></div><div>Murthy brought his son Rohan as his executive assistant.<br /><br /></div><div>Infosys said the chairman's office would be dissolved and Rohan would leave the company on Saturday, when the company will hold its annual shareholders meeting in Bangalore.<br /><br /></div><div>A Stanford University computer science Ph.D graduate, Sikka oversaw the development of new products, including a platform for quickly analysing large databases as the chief technology officer at SAP, the world's largest maker of business-management software.<br /><br /></div><div>His appointment brings down the curtain on a year of suspense, which saw an 11 senior level exists since June last year, when Murthy was brought back from retirement to head the company and put it back on a high-growth trajectory at a time when peers like TCS and HCL Tech were out-performing Infosys.<br /><br /></div><div>Analysts feel that his appointment to the corner office at the company will end the uncertainty at the Bangalore-based firm.<br /><br /></div><div>The Infosys scrip was down 0.19 per cent on the BSE in the afternoon trade. <br /><br /><div>"Dr Sikka will be inducted as a whole-time director of the Board and CEO & MD (Designate) on June 14, 2014. He will take over as CEO & MD from S D Shibulal on August 1, 2014," the Infosys statement said.</div><div>Infosys has also elevated UB Pravin Rao, President and whole-time director, as Chief Operating Officer, with effect from June 14.<br /><br /></div><div>Sikka, who was previously a member of the Executive Board of German tech giant SAP, was responsible for all products, from traditional and cloud-based applications to technology and platform products including HANA, analytics, mobile and middleware.<br /><br /></div><div>In addition, he led multiple initiatives to accelerate innovation and research at SAP. He holds a Ph.D in computer science from Stanford University, USA.<br /><br /></div><div>"I am honoured to lead Infosys, an iconic company built by pioneers in the technology industry. Computing technology is reshaping every industry across every walk of life. We, at Infosys, have a unique opportunity to deliver breakthrough solutions that will bring greater value to our clients, employees, investors and other stakeholders," Sikka said.<br /><br /></div><div>Infosys said veteran banker K V Kamath will become the Non-executive Chairman of the Board on October 11, while Murthy will be designated as Chairman Emeritus in recognition of his contributions to the company.<br /><br /></div><div>Other changes include Srinath Batni, a whole-time Director stepping down from the Board on July 31, and elevation of 12 leaders to the position of Executive Vice President with additional responsibilities.<br /><br /></div><div>On Sikka’s appointment, Vice-President & regional director at Gartner India Partha Iyengar told PTI: "The key thing is that uncertainty has ended. The first few months of Murthy's comeback were spent unravelling the product strategy and then parallely handling these exits.<br /><br /></div><div>"I can’t say for sure but the wrath of departures brought in a sense of urgency in announcing the next CEO. It is probably the best news in a long time."<br /><br /></div><div>Angel Broking’s VP Research Sarabjit Kour Nangra said the entry of a CEO into the company is the much awaited news as it has been searching for the chief, while facing the exodus of key employees. <br /><br /><div>"Now with a new CEO, with proven credentials, we believe that the news is positive for the company’s growth prospects," Nangra said.<br /><br /></div><div>Murthy was brought back from retirement in June last year as Executive Chairman to turn around the company, which was once the IT bellwether.<br /><br /></div><div>Over the last two years, it has lagged behind industry peers like TCS and HCL Technologies, which have been showing stellar performance on strong recovery in demand for outsourcing services.<br /><br /></div><div>"Vishal brings valuable experience as a leader of a large, global corporation. His illustrious track record and value system make him an ideal choice to lead Infosys," Murthy said.<br /><br /></div><div>Today’s development is expected to put to rest the uncertainties around the company’s CEO selection which in the recent past had triggered a slew of exits including many senior leaders such as B G Srinivas, the then president, and Ashok Vemuri who was then heading North America and manufacturing vertical in the role of a senior vice president and board member. </div></div></div></div>