Infosys starts search for Shibulal’s successor

Infosys Ltd confirmed its CEO SD Shibulal will retire on or before Jan 9, 2015, and that the company has appointed firms to find his successor.

“Mr. Shibulal has expressed his desire to retire as the CEO and MD of the company and as a member of the Board of Directors either on the date of the last board meeting before his superannuation – January 9, 2015 or when his successor is ready to assume office, whichever date is earlier,” Infosys said.

“The Nominations Committee will short list and evaluate an internal slate of candidates with the assistance of Development Dimensions International (DDI), a company specializing in corporate executive evaluations,” it said.

The Board has also appointed Egon Zehnder, an executive search firm, to assist the Nominations Committee in identifying an external slate of candidates.

The likely candidates from within the company are BG Srinivas, the Infosys’ president who looks after most of the sales and marketing, and UB Pravin Rao, the president who looks after most of the delivery.

Chairman Narayana Murthy has already said that he was open to external candidates as well. Experts see good chances for an external candidate taking over as Murthy has not been very happy with how the company has performed in recent years. End