Narayana Murthy set to retire on August 20

Narayana Murthy set to retire on August 20

N. R. Narayana Murthy, chairman of Infosys is due to retire on August 20 this year. And the board of the company is due to finalize a succession plan next month for smooth transition at the top of the company.

Infosys is one of India’s most well known IT companies and the second largest software exporter. Murthy spoke to the media on the coming events: “On August 20, I will complete 60 years and as per company policy, I will retire. From August 21, I will, if the board of directors decide, continue as the Non-Executive Chairman. The board will also decide on the Chief Mentor because the Chief Mentor has to be an executive person who will come to the office every day.”

Infosys was founded in 1981 and now has around 52,000 people working for it around the world and has revenues of $ 2.15 billion and a market capitalization of $21 billion.

Murthy added that he plans to have a separate office of his own in up-market Jayanagar and would also keep an office in the Infosys campus in Electronics City. He however confirmed that he has no plans to join politics.