Saturday, December 14, 2013

Infosys has retained the best senior talent, Murthy

Infosys chairman Narayana Murthybelieves the company has managed to retain its most promising senior talent, while voluntarily allowing "less promising" one to depart, Cowen & Co analysts wrote in note after a meeting him last week. 

Infosys has seen a string of senior executives resign after Murthy returned to take the helm of India's number 2 software company in June. Last month, Stephen Pratt, who cofounded Infosys Consulting, became the sixth top-level executive to leave the company. Ashok Vemuri, who headed operations in the Americas, resigned in August to become CEO at iGate. 
"In certain cases, the advancement of the company's most promising talent has been delayed by other less promising senior talent within the organisation. Per Mr. Murthy, in most cases, management was successfully able to keep promising senior talent which was about to leave Infosys. On the other hand, management voluntarily decided to let less promising talent depart," Moshe Katri, a New York-based analyst at Cowen, wrote in a note. 

Katri added that Infosys believes that it can pick its future CEO from its large pool of available senior managers. 

The note also added that Murthy doesn't believe there are any client-specific issues or potential pending client defections that could result from the spurt of senior leadership departures. The company has also started client hand-holding initiatives given the recent departures.

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