V Balakrishnan resigns from Infosys

Bangalore, Dec 20 : Infosys, a global leader in consulting, technology and outsourcing solutions, on Friday said its board member V Balakrishnan has resigned from the company.

The resignation is effective from Dec 31.

"The Board places on record deep sense of appreciation of the services rendered by Mr. V. Balakrishnan during his tenure as the Member of the Board, Chief Financial Officer of the Company and then as the Member of the Board in-charge of Infosys BPO, Lodestone, Finacle, India Business Unit and Global Immigration," Infosys said in a statement on Friday.

N. R. Narayana Murthy, Executive Chairman said, "Bala has been an early adopter and a keen anchor-builder of Infosys. It is difficult to imagine Infosys without Bala's passion, commitment, and intellect. The Board and every Infoscion thank Bala for his wonderful contribution and wish him great success in his future endeavors."

S. D. Shibulal, Chief Executive Officer and Managing Director said, "Bala during his two decades of association with Infosys, has played a pivotal role in building the finance function and has been a key driver behind all of our achievements in areas of investor relations and corporate governance. Over the last few years, he has also provided leadership to BPO, Finacle, India Business Unit, Global Immigration and most recently, to Lodestone. I would like to wish him the very best in all his future endeavors."

Balakrishnan said his stint at Infosys as a 'great experience'.

Balakrishnan said, "I have enjoyed every moment of my stint at Infosys and it was a great learning experience. While my heart will always be with Infosys my mind wants to do something beyond Infosys. I thank all my colleagues who supported and encouraged me during my career at Infosys. I wish Infosys all the very best in its future endeavors."

The Nominations and Governance Committee of the company recommended the induction of U. B. Pravin Rao as a whole-time director of the company.

Rao is currently a Member of the Executive Council, Senior Vice President and Global Head-Retail, Consumer Packaged Goods, Logistics and Life Sciences.

Rao also serves as a Member of the Board of Infosys Lodestone.

Rao is also the Director of the Infosys Leadership Institute (ILI).

Welcoming Rao, N. R. Narayana Murthy, Executive Chairman said, "I am very happy that Pravin will be joining the Board. I have worked with Pravin closely and have benefited immensely from his wisdom. My congratulations to him."

Meanwhile, the company announced it has inducted Kiran Mazumdar-Shaw as an Independent Member of the Board.

The Nominations and Governance Committee of the company recommended the induction of Kiran Mazumdar-Shaw as an Independent Member of the Board.

Shaw is the Chairman & Managing Director of Biocon Limited a biotechnology company based in Bangalore. city.

Welcoming Shaw, Murthy said, "Kiran is a well-recognized and respected corporate leader. She will bring immense value to the board. I am honored to welcome her to our Board."

--IBNS (Posted on 20-12-2013)

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