BANGALORE: Infosys Technologies Ltd. has announced that three senior
executives of the company were inducted to the board as Additional Directors. In
the course of a meeting, the nominations committee of the company recommended
the induction of Phaneesh Murthy, T. V. Mohandas Pai and Srinath Batni to the
board.
Phaneesh Murthy is currently senior vice president — sales
& marketing and communication & product services. He is an alumnus of
the IIT, Madras and the IIM, Ahmedabad. He joined Infosys in 1992 as a marketing
manager and was appointed senior vice president and head (worldwide sales) in
1998. As a member of the board, he will continue to be responsible for sales and
marketing activities and will continue to head the communications & product
services group.
T. V. Mohandas Pai is currently chief financial officer and
senior vice president — finance and administration. He is a chartered
accountant and a law graduate. He joined Infosys in 1994 as vice president
(finance) and was appointed senior vice president (Finance & Administration)
in 1998. As a member of the board, he will continue to be the Chief Financial
Officer and will be responsible for finance, administration and infrastructure
activities.
Srinath Batni is currently senior vice president — delivery
— West North America. He is a mechanical Engineer from Mysore University and
holds a masters in engineering from the IISc, Bangalore. He joined Infosys in
1992 as a project manager and was appointed senior vice president and head —
strategic business unit - 3 in 1998. As a member of the board, he will continue
his current responsibilities in delivery.
The Board of Directors (BoD), in a meeting held after the
Annual General Meeting (AGM), accepted the recommendations of the committee and
appointed them as Additional Directors. The new directors will hold office up to
the date of the next AGM. At that point, their appointment as whole-time
directors will be placed for approval before the shareholders. Infosys chairman
and chief executive officer N. R. Narayana Murthy said, "Infosys is a
professionally managed company and prides itself on its meritocratic culture.
Phaneesh, Mohan and Srinath made it to the board by dint of their hard work and
their valuable contribution to Infosys over the years. I am confident that they
will continue to play a key role in helping Infosys scale new heights in the
years to come."
At the AGM, the members of the company approved an increase
in the maximum strength of the BoD from 12 to 18. The members also approved an
increase in the limit on the aggregate Foreign Institutional Investors (FII)
holding in the company to 40 per cent of the equity base from the previous limit
of 30 per cent.