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".
Some media reports stated that Rohan has been designated as a vice president, which is a relatively senior position in the company.
"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.
The company might hire a foreigner chief executive officer for the first time.
Companies are expected to firm up their business plans for the second half of the year.
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.
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.
Happy hours, a discount concept popular across bars, restaurants and multiplexes, is now catching up in the health care sector, too.
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
Top decision-making body, executive council, will be dissolved on April 1.
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.
The development comes at a time when Infosys' shares are trading at a record high.
Last year, salary increases were given only in October, when the company came under pressure from increments offered by peers.
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Shibulal talks about the company's new focus areas under the chairmanship of N R Narayana Murthy, and their rationale.
'Pravin Rao's commitment and contribution to the company has been immense, and his partnership over the past three years has been critical to the successes and growth of our company,' said Vishal Sikka, chief executive officer at Infosys.
The targeted budget for the project was reportedly projected at 750,000.
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 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.
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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.
Ministers are forbidden to have any connections with businesses that are related to the work they conduct for the government.
Murthy created today's situation by pushing into leadership positions people who should not have been there.
The one-time bellwether of the country's IT industry has slid to the third spot in terms of revenue, overtaken by a relative upstart, Cognizant Technologies (TCS is the largest).
The stranglehold of the founders over the Infosys management has strengthened after the recent changes.
The decision has been taken because Executive Chairman N R Narayana Murthy attempts to bring Infosys back to basics.
A centralised, founder-led model that relies on organic growth is no longer workable.
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.
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