Having nurtured Infosys for the last three decades, Narayana Murthy would be succeeded by eminent banker K V Kamath as Infosys' Chairman with effect from August 21.
Murthy, 68, will cease to be the non-executive Chairman with effect from Oct 10.
Murthy sought the shareholders understanding, support and encouragement in this exciting and rewarding journey of the next three years.
More than a year after he was nominated by President Barack Obama, the US Senate, defying the powerful pro-gun lobby National Rifle Association, voted to confirm Dr Vivek Hellegere Murthy as the first Indian American US Surgeon General and the youngest ever at age 37, in a cliff-hanger of a 51-43 vote.
NR Narayana Murthy came out of retirement in June to run a floundering Infosys.
Narayana Murthy, head of software giant Infosys Technologies, has been appointed Thailand Premier Thaksin Shinawatra's adviser on information technology matters.
Infosys Chairman N R Narayana Murthy and its CEO Nandan Nilekani have been named as Asia's Businessmen of the Year 2003 by international business magazine Fortune.
Indian-American Vivek Murthy was on Wednesday administered the oath for the top post of US Surgeon General by Vice President Joe Biden at a ceremonial ceremony in Virginia, becoming the youngest-ever in charge of the country's public health.
Murthy created today's situation by pushing into leadership positions people who should not have been there.
The company's inflexibility on prices and margins and a tradition of rotating leadership roles amongst its founders have made it less nimble than rivals.
The current executive co-chairman S Gopalakrishnan will be re-designated executive vice-chairman while S D Shibulal, who was one of the seven engineers to launch the company in 1981 by pooling together $250, will continue as Chief Executive Officer (CEO).
Infosys Ltd co-founder N.R. Narayana Murthy is close to entering into an e-commerce joint venture in India with Amazon.com Inc through his investment firm, Catamaran Ventures.
In fact, while IT bellwether Infosys Technologies (his earlier employer) got a drubbing at the bourses for not posting "better than expected" results, iGate stumped investors a couple of days back by announcing it plans to buy back shares from the public and delist from the Indian stock markets, while remaining listed in the US.
A similar case is still pending before a court in Mysore. The case is expected to come up for hearing shortly.
Software icon N R Narayana Murthy on Saturday backed Anna Hazare's movement against corruption and favoured the Prime Minister's Office and the judiciary coming under the ambit of the Lokpal Bill. The chairman and chief mentor of Infosys also supported people's movements taking to the streets to demand an end to corruption."I think in a democracy, pluralism is inevitable. It has to be there. That is what makes democracy stronger," Murthy told reporters.
Recruitment from colleges should be done and local people be trained to add value to Indian companies, said Murthy.
Infosys is currently working on lot of tools and technology that will enhance an individual's productivity, he said.
The company should reward the confidence of the shareholders by returning some cash to them.
The culture clash isn't the only issue - most of the founders are still wary of risky bets while the new management thinks calculated aggression is necessary in the new world of business, says Shyamal Majumdar.
Terming payment systems as the backbone of a nation's financial infrastructure, N R Narayana Murthy, chief mentor of Infosys, on Wednesday called for widening the reach of the electronic payment system to rural areas.
A day after fielding Mohammed Yousuf Savanur as its candidate from Shiggaon in Haveri district, the party nominated Yasir Ahmed Khan Phatan in his place.
Software icon N R Narayana Murthy has blamed poor public governance for major ills faced by the country such as illiteracy, malnourishment, lack of sanitation facilities and dismal food and power management.
'My grandfather was a poor farmer who fought for democracy and freedom in India and who could have never dreamed that his grandson would have the opportunity to sit before you today and be considered for the position of Surgeon General,' Dr Murthy told a US Senate Committee
With improving demand for outsourcing services in the US and European markets, which account for over 80 per cent of the revenues of the $108 billion Indian IT sector, hiring is expected to be better than the last few years.
However, talking to media persons later, Murthy advocated another term for Kalam as President.
Narayana Murthy, chairman and chief mentor of India's second-largest information technology services provider Infosys Technologies, has asserted that he has set up the Catamaran Venture Fund to occupy himself once he retires from Infosys in 2011.
Murthy added that global economic scenario is not in good shape as developed economies are not performing well.
Having carved a niche for itself as a global outsourcing hub for services, India should now look at becoming the world's preferred manufacturing destination, Infosys chief mentor N R Narayana Murthy said on Thursday.
In a swift damage control exercise, Karnataka Chief Minister N Dharam Singh on Thursday said he would persuade Infosys Chairman N R Narayana Murthy to withdraw his resignation as the Bangalore International Airport Ltd chairman.
Software major Infosys Technologies Chief Mentor N R Narayana Murthy has, for the fifth year running, emerged the most admired business leader of India amongst B-schools across the country.
What do you think about Narayana Murthy stepping down? Will Infosys be the same again without him at the helm? Will it keep growing at the scorching pace it has set?
N R Narayana Murthy, co-founder and chief mentor of IT major Infosys Technology, said corporate bodies in developing countries like India have a responsibility to involve themselves in philanthropic acts to help underprivileged people.
Infosys chief mentor N R Narayana Murthy has said his 22-year-old son Rohan does not want to step into his shoes and hinted he may have a venture of his own.
N R Narayana Murthy, who stepped down as executive chairman of Infosys last month, says he is keen to take up a professorship so that he could be with younger people.
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".
Infosys Technologies Chairman N R Narayana Murthy on Wednesday said corruption has become pervasive in institutions in the country and there is a strong incentive for politicians to keep people ignorant and illiterate.
Murthy, said Mohandas Pai, should focus on mentoring the next generation.
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