N.R.Narayana Murthy who retired from Infosys in 2011 was called back to reins of the company as the Executive Chairman of the Company.  He is appointed as the Executive Chairman for 5 years effective from June 1 and K.V.Kamath who was working as the non-executive Chairman of Infosys is stepping down from June 1.

Narayana Murthy thanked K.V.Kamath, the Board and every Infoscion for the opportunity given to him to work with his 'middle child'- Infosys.  During the five year term Narayana Murthy will draw Re.1/- per year towards remuneration.  

Narayana Murthy’s son Rohan Murthy will assist his father in the position of Executive Assistant for which the Board gave its approval.  

The decision of the Board was sudden and surprising to everyone including Narayana Murthy.  Narayana Murthy said that he will do his best to get the company out from the present crisis.  Infosys once on top is now going below that of TCS, HCL and Cognizant in terms of revenue growth.  

But of course some formalities are left like electing Narayana Murthy as a Director in the Annual General Meeting that will be held on 15th June and later the Board will pass a resolution for conducting an extraordinary general meeting to get the appointment of Narayana Murthy from June 1 ratified by the share holders.  

(AW-SriJa)