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Top-level exits at Bangalore-based Infosys may have led to concern about the company's medium-term growth, but these have contributed to Executive Chairman N R Narayana Murthy's strategy of cost optimisation.
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Cost cutting has begun to deliver; analysts say the real turnaround will come when Murthy's impact is evident on sales and delivery.
Unfazed by the exodus of top executives, Infosys co-founder and Executive Chairman N R Narayana Murthy on Friday said he wished luck to those who quit the firm and said the company has a strong cadre of leaders and that its future will not be "compromised".
The Infosys co-founder, who was brought back to head the firm in June last year, also expressed unhappiness over the laggard performance in the last two years.
Some media reports stated that Rohan has been designated as a vice president, which is a relatively senior position in the company.
The company might hire a foreigner chief executive officer for the first time.
According to sources privy to the development, Murthy has chosen a team of four senior executives -- former Infosys India business unit head Binod Hampapur Rangadore, Ranganath D Mavinakere, Deepak Padki and Rohan Murty.
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Companies are expected to firm up their business plans for the second half of the year.
"There was not a single decision that I took during my second tenure without discussing it with Ranga and getting valuable input from him," says Narayana Murthy.
For the first time since its inception over thirty years ago, these exits will lead the company to have a non-founder CEO.
To an outsider, the exits could signal turmoil and, perhaps, even trouble. But, Infosys, on the contrary, seems to be back as stock markets' darling.
Infosys on Friday posted healthy growth in earnings for July-September 2013, and raised the lower end of its FY14 revenue guidance, indicating the company had regained its momentum.
Infosys Ltd's refocus on big-ticket contracts since the return of its founder has begun to pay off as India's No. 2 software services exporter crossed $2 billion in quarterly sales for the first time and pushed up its revenue outlook.
Analysts said the company has set conservative revenue guidance that they expect it to beat.
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Infosys now plans to re-purpose Skava's micro services-based business and re-focus Panaya's suite of products.
Leaders across the political spectrum on Friday condoled the demise of Chhattisgarh's first chief minister Ajit Jogi, with Prime Minister Narendra Modi hailing the IAS officer-turned-politician for striving to bring a positive change in the lives of the poor.
Spend on IT in US is expected to increase by 6.1 per cent in 2014.
Murthy's recent US trip helped to curb company's inflexible, arrogant perception
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About 24 mn shares of Infosys worth Rs 575 cr were traded on both the exchanges on Friday compared to a three-month daily average of 14.5 mn shares worth about Rs 365 cr.
Without panning Narayana Murthy's credentials, executives in many of these firms feel they are not sure about company's future.
Last year, salary increases were given only in October, when the company came under pressure from increments offered by peers.
The development comes at a time when Infosys' shares are trading at a record high.
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Shibulal talks about the company's new focus areas under the chairmanship of N R Narayana Murthy, and their rationale.
In a brazen show of competitive politics, Andhra Pradesh MPs belonging to Congress and Telugu Desam were Wednesday locked in a scuffle in public view at the Jolly Grant airport in Dehradun over ferrying pilgrims back to the state.
The targeted budget for the project was reportedly projected at 750,000.
The US legal action is likely to further strengthen public opinion, at a time of high unemployment, against information technology outsourcing -- which is seen to take away jobs from locals.
Infosys did not disclose the nature of the information sought by Securities and Exchange Board of India.
N R Narayana Murthy addressed Infosys staff on Thursday for the first time since taking charge of the beleaguered company as the executive chairman.
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