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Infosys dissolves Executive Council

Infosys dissolves Executive Council

By Press Trust of India | Updated: 31 March 2014 19:05 IST

IT services major Infosys on Friday announced that its top decision-making body, the Executive Council, will be dissolved effective April 1, 2014.

Also, the Bangalore-headquartered firm appointed nine Executive Officers, which include Executive Chairman NR Narayana Murthy, CEO and Managing Director S D Shibulal, Vice Chairman S Gopalakrishnan and CFO Rajiv Bansal.

In a regulatory filing to the US Securities and Exchange Commission (SEC), Infosys said: "As reported previously by the Company, Executive Council of the company will be dissolved effective 1 April, 2014. Pursuant to this, effective 1 April, 2014, the company will have nine executive officers."

In January this year, India's second largest software services exporter had announced the move to dissolve its top decision-making body with effect from April 1.

The other Infosys officials who have been appointed as executive officers are Board Member Srinath Batni, newly appointed Presidents Pravin Rao and B G Srinivas, Chief Risk Officer and Company Secretary Parvatheesam K, and Group Head (Human Resource Development) Srikantan Moorthy, it added.

The appointment of executive officers was made in line with SEC regulations.

Infosys shares Friday rose by 0.96 percent to settle at Rs. 3259.55 apiece on the BSE.

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