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Rediff.com  » Business » I am not resigning, says Infosys Finacle Head Haragopal

I am not resigning, says Infosys Finacle Head Haragopal

June 08, 2014 14:47 IST

Head of Infosys's banking software solution Finacle, M Haragopal has dismissed reports about his quitting the country's second largest software services firm. Reports had indicated that Haragopal, who is a Senior Vice President and global head of Finacle, will quit the firm.

The Bangalore-based company has seen a spate of top-level exits since its co-founder NR Narayana Murthy came back from retirement in June last year.

"There have been some media reports that I have resigned. Such speculation is unwarranted and uncalled for. I would urge you to avoid getting distracted by these speculative stories," Haragopal said in a letter to employees of the Finacle unit.

Haragopal, who has been associated with banking software and solutions space for over 25 years of which 19 years has been spent at Infosys, asked the employees to continue their "stellar" performance.

"We started FY 2015 with some impressive wins as well as go lives across geographies. We announced the industry-leading scalability numbers for Finacle. And we continued the innovation journey along with our clients.

"We won five industry awards for the transformation programmes spanning across core banking, channel solutions and liquidity management," he wrote in the letter.

Haragopal also asked the employees to "stay focused on delivering client value, winning new deals and continue to excel in our delivery." For the 2013-14 fiscal, Infosys said Finacle secured 38 new wins and 47 go-lives at banks across Europe, Africa, Middle East, India, Asia Pacific and Central America. In the 2012-13 fiscal, the banking solution secured 48 wins.

Besides a strong presence in India, Finacle powers 168 banks across 81 countries across all key global regions including Africa, Americas, Europe and Asia. Industry watchers indicated that the recent resignations are associated with Infosys' hunt for the new CEO, which with such high-profile exits point towards an increasing growing chance of an outsider replacing incumbent S D Shibulal – a first in its over three-decade existence.

Last week, its global head of strategic sales, marketing and alliances Prasad Thrikutam resigned from the job marking the 11th senior management executive exit from Infosys since Murthy's return.

President and Board Member B G Srinivas, considered a front runner for the CEO position, quit in May 2014, whereas another CEO contender V Balakrishnan, its former CFO and Lodestone Head, had quit in December last year to pursue political aspirations.

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