Infy to Get List of CEO Prob­a­bles Next Month

Exec search firm Egon Zehn­der’s list may in­clude names of Ka­math, Ki­ran Shaw, R Se­shasayee

The Economic Times - - Companies - VARUN SOOD

In­fosys will re­ceive a list of prob­a­ble names for its first non-founder CEO as early as next month from the ex­ec­u­tive search firm that is help­ing it zero in on the can­di­date. The com­pany’s nom­i­na­tions com­mit­tee is ex­pected to share with other board mem­bers, in­clud­ing those at in­de­pen­dent board level, the names of ex­ter­nal can­di­dates some­time to­wards the mid­dle of June, said a per­son fa­mil­iar with the de­vel­op­ment. “The nom­i­na­tions com­mit­tee will up­date other mem­bers the names it has got (from Egon Zehn­der) at the (com­ing) board meet­ing,” the ex­ec­u­tive said, de­clin­ing to share de­tails. ET learns that Egon Zehn­der, the ex­ec­u­tive search firm, is ex­pected to sub­mit the list by the first week of June to the three-mem­ber strong nom­i­na­tions panel, which in­cludes in­de­pen­dent di­rec­tors KV Ka­math, Ki­ran Mazum­dar-Shaw and R Se­shasayee. Once the nom­i­na­tions panel has the 8-10 names from out­side the com­pany, the panel in con­sul­ta­tion with Egon will whit­tle down it to three names in the com­ing months, said an­other per­son di­rectly fa­mil­iar with the de­vel­op­ment.

The Ban­ga­lore-based soft­ware ex­porter would by then also have the names from in­ter­nal ranks af­ter be­ing eval­u­ated by De­vel­op­ment Di­men­sions In­ter­na­tional, the specialist firm hired to eval­u­ate its se­nior ex­ec­u­tives.

The search for the next CEO at In­fosys is im­por­tant as both found­ing mem­bers of the com­pany, vicechair­man Kris Gopalakr­ish­nan and cur­rent chief ex­ec­u­tive SD Shibu­lal would re­tire next year. In­fosys started the search for the fifth chief ex­ec­u­tive in April af­ter Shibu­lal ex­pressed his de­sire to step down ear­lier than his planned re­tire­ment in March 2015. Kris re­tires in April next year, leav­ing only chair­man Narayana Murthy to be at the com­pany, which was founded in 1981. Murthy’s sec­ond term ends in 2018.

BG Srini­vas, one of the two pres­i­dents at In­fosys who is re­spon­si­ble for most client-fac­ing func­tions, is con­sid­ered to be the front-run­ner for the top job. Both ex­ec­u­tives de­clined to give any time­lines by when the po­ten­tial suc­ces­sor’s name would be de­cided but one of the sources quoted above said the com­pany should have a name by mid­dle of Oc­to­ber. Since suc­ces­sion plan­ning has not been listed as one of the eleven sub­jects to be dis­cussed at the In­fosys’ An­nual Gen­eral Meet­ing, sched­uled on June 14, one of the ex­ec­u­tives men­tioned above said a spe­cial board meet­ing could be held ten­ta­tively on June 12. ET in­de­pen­dently could not con­firm this as the com­pany de­clined to com­ment. The ex­ec­u­tives dis­missed any talk of ex­ec­u­tive search firm strug­gling to find po­ten­tial names for the next chief ex­ec­u­tive and said the ex­ec­u­tive search firm re­mains “on track”. Ex­ec­u­tive search firm Egon Zehn­der in the past has helped large cor­po­rates find top bosses to run op­er­a­tions. Egon is as­sist­ing Tata Mo­tors find man­ag­ing di­rec­tor af­ter Karl Slym’s sud­den demise in Bangkok ear­lier this year. Egon Zehn­der de­clined to com­ment to com­ment for the story.

KV Ka­math

Ki­ran Mazum­dar-Shaw

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