Bangalore: Narayan Murthy’s successor to be named today

CNN-IBN

Bangalore, 30 April 2011: The board of India’s second-largest IT company Infosys is to decide on chairman Narayan Murthy’s successor on Saturday. If one of the founders is handed the job then the other top posts will see changes as well. Sources say the Board is also likely to be expanded. V Balakrishnan, the current CFO and two more members may join the board according to reports.

 

 

There are two main contenders to the Infosys throne - 63 year old KV Kamath - an independent board member, who is also the non-executive Chairman of ICICI Bank. Well-qualified but not an Infosys insider, and as its known its tradition at Infosys to favour insiders. And that tradition may go in favour for S Gopalakrishnan - a founder member and current CEO and MD of Infosys - for many he’s the next best thing after Narayana Murthy. And if Gopalakrishnan makes it - the most likely contender to take over the CEO’s post will be SD Sibulal - who is a founding member and is the current COO of the company.

 

A walk down the Infosys memory lane:

 

Narayana Murthy has every reason to smile as the company he co-founded in 1981 with 6 other middle class mavericks has come a long way. Started in a 10x 10 room with Rs 10,000 this IT behemoth is credited with creating 1000’s of millionaires courtesy its stock option schemes. Old timers says Murthy’s greatness is his humility.

 

KV Kamath, Non Exec Chairman, ICICI Bank, said "There was a security guard at the door who opened the door for Murthy. And what Murthy asked him is still in my mind today. He says in Kannada ’utay tho’ that is have you had dinner?"

 

Not just his humility, Murthy’s dogged pursuit of good governance standards, has been appreciated and imbibed by many in corporate India.

 

KM Birla, Chairman, Aditya Birla Group said, "The kind of governance that he stood for. The fact that he’s speared the team, he has also stepped down and let the team take over and take the company forward which in itself a very big thing to do."

 

Those leadership skills are something which his professor, who knew him as a student, says he saw in a young Murthy many years ago.

 

"I think it’s the team building capability and the understanding that he showed right at the beginning of Infosys about having to identify values that they were going to maintain," said J Krishna Iyer, Narayana Murthy’s professor.

 

Murthy is stepping down at when the company is seeing a lot of flux, at a time when Mohandas Pai has quit, Nandan is not around and peers are outperforming. But is his employees are not complaining.

 

Ambitabh Chaudhry, Former CEO, Infosys BPO, said, "No I don’t think it is very crowded at the top. Everyone at Infosys has understandably and arguably been there for a couple of years but some of that could change."

 

However the best tribute to Murthy is given from fellow founder Nandan Nilekani. According to Nilekani, Murthy’s name will be right at the top when India’s corporate history will be written.

 

"When the history of Corporate India is written Murthy’s name will be right up there," said Nandan Nilekani, former Co-founder, Infosys.

 

Indicative perhaps of how hard it will be for him to step away from Infosys, Murthy could continue as Chairman emeritus at the company for another couple of years.