Infosys to have non-founder chairman up to age of 70
May 1st, 2011 - 3:52 am ICT by IANSBangalore, April 30 (IANS) In a significant shift in company’s policy, India’s IT bellwether Infosys decided to have non-founder chairman on its board up to the age of 70 and co-founder chairman up to 65 years, an official said late Saturday.
“The board has decided to have the retirement age of its non-founder chairman up to 70 years while its co-founder chairman will step down when they reach 65 years,” company’s new co-chairman S. Gopalakrishnan told IANS here.
In the light of the policy shift, newly appointed chairman K.V. Kamath, who is 63, will be able to continue at the helm till 2017 if his three-year contract is extended by the board in 2014.
Jeffery S. Lehman, the company’s nominations committee chairman and independent director, said the decision to extend the age of non-founder board chairman was taken three years ago to select the best available talent globally in the changing dynamics of business.
Gopalakrishnan said: “In order to get an excellent candidate who can head the board and lead the company, we have enhanced the age of non-founder chairman to 70, as co-founders took a conscious decision long ago to step down from the company’s any official postings on completing 65 years.”
The company did not specify how many shares he would hold or his salary, including perks as the new chairman.
- Renowned banker K.V. Kamath new Infosys chairman (Night Lead) - May 01, 2011
- Banker Kamath to succeed Narayana Murthy at Infosys (Roundup) - May 01, 2011
- Infosys inducts four new directors - Jun 11, 2011
- Co-founder Narayana Murthy bids adieu to Infosys - Aug 19, 2011
- Infosys drops 'Technologies' from name - May 01, 2011
- Bill Gates wishes Murthy as he retires from Infosys - Aug 20, 2011
- Infosys names K.V. Kamath as new chairman (Third Lead) - Apr 30, 2011
- Infosys swaps global business heads - Feb 03, 2012
- Adi Godrej is new CII president - Apr 18, 2012
- Kamath, the force behind ICICI's rise (Profile) - May 01, 2011
- India's first telecom business incubator in Kerala - Oct 27, 2011
- Infosys to decide on Narayana Murthy's successor April 30 - Apr 15, 2011
- Chandy launches IT incubator - Mar 27, 2012
- K.V. Kamath to head Infosys (Lead) - Apr 30, 2011
- K.V. Kamath named Infosys chairman (Second Lead, correcting date in Para 2) - Apr 30, 2011
Tags: bellwether, board chairman, co chairman, co founder, committee chairman, conscious decision, founder chairman, founders, gopalakrishnan, helm, independent director, India, k v kamath, lehman, nominations committee, postings, retirement age, salary