BENGALURU: Infosys has appointed R Seshasayee as non-executive chairman of the Board with immediate effect. Seshasayee replaces K V Kamath who stepped down as chairman and as an independent director of the company, consequent to his nomination as president of the BRICS New Development Bank.
Infosys appoints Seshasayee as chairman
Kamath, handpicked by Murthy to steer Infosys board, is leaving the board as he moves to the Shanghai-based new multilateral lender. Kamath is also the non-executive chairman of ICICI Bank. In some sense, Kamath was one of those who scripted Infosys’s revival story bringing the old protagonist Murthy back from retirement to reinvigorate the company tackling growth and leadership challenges. Murthy voluntarily stepped down as executive chairman in June last year after putting the company back on revival track. Kamath also led the search for new CEO Vishal Sikka who took over as the first non-founder executive head last year.
Outgoing chairman K V Kamath said, “I am proud to have served as a member of the Infosys Board and as its chairman. The Board has made the most appropriate choice in nominating Mr. Seshasayee as my successor, given his vast and varied experience in leading large public companies, and his strong contribution to Infosys, during the last four years of his association. Infosys will benefit greatly from his sagacity.”
Seshasayee has been an independent director on the company’s Board since January 2011 and is the chairperson of the Audit Committee. Seshasayee’s holds other board positions including non-executive vice chairman of Ashok Leyland and chairman of IndusInd Bank