No problem if my successor is Infosys outsider: Murthy
PTI, Aug 10, 2010, 11.03pm IST
NEW DELHI: Infosys chairman and chief mentor N R Narayana Murthy said it wouldn't be difficult for an outsider to succeed him and asserted that non-meritorious members of its founders' families will not be part of the company.
"I think in the last 15 years, the way we have run the company, it will be easy for an outside person to become the chairman of the company. There will be no issue at all," Murthy told TV news channel when asked whether it would be difficult for an outsider to fit into Infosys' culture.
"No, I think as a matter of principle, I should not express preference for one person or another," he further said.
Murthy will retire on August 20, 2011, when he turns 65. Murthy is the second corporate leader talking about his succession in as many days. Yesterday, $71 billion Tata Group Chairman Ratan Tata had said that his successor should be the right person, not an anti- or pro-Parsi.
In reply to another question, Murthy said, "... If there is a son or daughter who wants to join, who is competent, can certainly join, because we cannot deny any citizen of India, or for that matter, any country, the opportunity to join. But here, she will not have a role disproportionate to their experience, their competence, etc."
He also said his son Rohan is unlikely to join Infosys any time soon.
He said Jeff Leyman is the chairman of the nomination committee to look at all possible candidates inside and outside the company and come out with a recommendation in time.
"In other words, by the July board meeting, which would be July 10th or 11th of 2011, we should definitely know who would be stepping into the chairman's position," Murthy said.
Murthy established Infosys in 1981 with an initial capital of $250 along with six others, Nandan Nilekani, Kris Gopalakrishnan, S D Shibulal, K Dinesh, N S Raghavan and A Arora.
The company is currently led by CEO Kris Gopalakrishnan. With revenue of Rs 6,198 crore for the quarter ended June 30, 2010, Infosys has over 113,000 employees in over 50 offices worldwide.
Shares of Infosys were trading at Rs 2,823.05, down 1.74 per cent on the Bombay Stock Exchange today.
Read more: No problem if my successor is Infosys outsider: Murthy - India Business - Business - The Times of India http://timesofindia.indiatimes.com/business/india-business/No-problem-if-my-successor-is-Infosys-outsider-Murthy-/articleshow/6289570.cms#ixzz0wYReBM6V
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