Click to play videoMumbai: TV Mohandas Pai is quitting the Infosys Board as the company's Human Resources Director after 17 years. Infosys CEO and MD S Gopalakrishnan has confirmed that Pai requested the Infosys Board to relieve him of all responsibilities after the company's Annual General Meeting on June 11, 2011.
Pai told Network18 that he never wanted to the CEO of the IT giant and dispelled the rumours of strife in the management. According to Pai it's also the end of an era with NR Narayana Murthy, too, stepping down.
"Being the CEO of this company was never my aspiration at all, never," said Pai.
Infosys will be unveiling its succession plan by the end of the month. This is second big exit of a senior member from the company, after the resignation of Nandan Nikelani.
Add to this K Dinesh, one of the founder members and a member of the board, who has chosen to retire. He was head of quality, information systems and the communication design group.
"We all know that he is taking this painful decision, since he has much bigger projects in the horizon—nation building," NR Narayana Murthy, Chairman and Chief Mentor of the company, said in the release.
"Mohan has been an early adopter and a keen anchor builder of Infosys. It is difficult to imagine Infosys without Mohan’s passion, commitment, joie-de-vivre and intellect," Murthy said.
Mohan joined Infosys in 1994 and has served as a member of the board since May 2000. He was the chief financial officer from 1994 to 2006. In 2006, he voluntarily demitted the office of CFO to lead efforts in the areas of human resources and education and research.
India's second largest IT services exporter Infosys reported a 2.15 per cent growth in its fourth quarter net profit at Rs 1,818 crore versus Rs 1,779.8 crore in Q4FY10. Its standalone revenues came in at Rs 6,668 crore. A CNBC-TV18 poll saw net profit at Rs 1856 crore and revenue at Rs 7447 crore.
The board of directors will meet on April 30, 2011 to finalise on the new chairman post Murthy's retirement in August 2011.
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