RohanMurty, son of Infosys co-founder NR NarayanaMurthy, will join the software major as an executive assistant to his father. In order to function more effectively, NarayanaMurthy intends to create the chairman's office to assist him during his tenure and has requested the board to permit him to put together a team for this function. The team will include RohanMurty.
Rohan Murty is a Junior Fellow in the Society of Fellows at Harvard University. He has a PhD in Computer Science from Harvard University and a Bachelor's degree in Computer Science from Cornell University and has held fellowships at MIT, Caltech, and Microsoft Research.
He has authored several papers and patents as part of his research on wireless and mobile computing.
Infosys on Saturday announced that the company's board has appointed NR Narayana Murthy as executive chairman of the board and additional director with effect from June 1, 2013.
If appointed, Rohan Murty's term as executive assistant to the chairman would be co-terminus with that of Narayana Murthy. Rohan Murty has requested that he should also be paid only a token compensation of Re 1 per year.
The Board has agreed to Narayana Murthy's requests, subject to necessary approvals.
NR Narayana Murthy said, "This calling was sudden, unexpected, and most unusual. But, then, Infosys is my middle child. Therefore, I have put aside my plans-in-progress and accepted this responsibility. I am grateful to KV Kamath - the chairman, the board, and every Infoscion for giving me this opportunity. I intend to do my best to add value to the company in this challenging situation."
During his five year term, Murthy would draw a token compensation of Re 1 per year.
KV Kamath would step down from his position as chairman of the board and take up the position of lead independent director.
Commenting on the decision, KV Kamath said, "The Board has taken this step keeping in mind the challenges that the technology industry and the company faces and in the interest of all stakeholders, particularly shareholders large and small, who have asked for strengthening of the executive leadership during this challenging time."
"Murthy's entrepreneurial and leadership record and the long experience he has had as a technology pioneer makes him eminently qualified to lead the company and provide strategic direction at this point in time," Kamath added.