Exit Roll: Infosys Loses One More of its Top Dogs
President of IT giant was considered a frontrunner to be the first non-founder CEO
Newly elevated president BG Srinivas has joined the procession of senior executives turning their backs on Infosys, putting pressure on founder NR Narayana Murthy to demonstrate that his return to the software company is doing more good than harm. Since Murthy’s return as chairman a year ago, sentiment about Infosys has continued to sag and there has been no dramatic improvement in performance either, prompting questions about the wisdom of his recall and adding urgency to the search for a chief executive to replace SD Shibulal. “The continuing news flow on departing senior Infosys executives leaves many industry watchers baffled,” said Thomas Reuner, principal analyst at Ovum, a consultancy.
Srinivas’ decision to leave, observers said, is linked to the ongoing search for a chief executive officer to replace Shibulal. A 15-year veteran of Infosys who was overseeing most of Infosys’ client-facing functions, Srinivas, who was made one of the company’s two presidents in January, was considered by many to be a frontrunner for the job. But he was likely told that he was not in contention, prompting his decision to leave. Infosys did not immediately announce a replacement. Srinivas will stay on until June 10. Last month, Infosys appointed US-based Development Dimensions International, a specialist in executive evaluations, to present the nominations committee of the board with a slate of internal candidates. Executive search firm Egon Zehnder will come with a shortlist of external candidates. On Tuesday, ET reported that the Infosys board has finished evaluating eight internal candidates, including Srinivas and UB Pravin Rao, a president who oversees most delivery operations. The company is awaiting a list of external candidates from the search firm. People close to Srinivas said he was upset that the job had been thrown open to so many Infosys executives.