Saturday November 16, 2019
Home Lead Story Ravi Venkates...

Ravi Venkatesan Quits As Infosys’ Independent Director

An independent director since 2011, Venkatesan also served briefly as co-chairman before successfully transitioning this responsibility when Nandan Nilekani became chairman in August 2017.

0
//
Infosys' independent director Ravi Venkatesan has resigned from the board with immediate effect, the company said on Friday.
Ravi Venkatesan quit as Infosys' independent director, wikimedia commons

Infosys’ independent director Ravi Venkatesan has resigned from the board with immediate effect, the company said on Friday.

The Bengaluru-based IT major, in a statement, said that Venkatesan plans to pursue an “exciting new opportunity”.

“I joined the board at a time when Infosys was beginning the complex journey of transitioning from founder-led to professional management. This was also a time of tectonic industry shifts. I am pleased that this mission has been accomplished. Infosys is strong, in good hands, and is gaining momentum,” Venkatesan said.

Infosys' independent director Ravi Venkatesan has resigned from the board with immediate effect, the company said on Friday.
Infosys Logo, wikimedia commons

An independent director since 2011, Venkatesan also served briefly as co-chairman before successfully transitioning this responsibility when Nandan Nilekani became chairman in August 2017.

It may be recalled that India’s second largest IT exporter, Infosys, had seen protracted stand-off between its founders led by NR Narayana Murthy and the previous management over issues of corporate governance and compensation to former executives.

The tussle had led to the sudden resignation of the then CEO Vishal Sikka last year.

Salil Parekh joined the Bengaluru-based company as the new CEO in January this year. (IANS)

Next Story

Infosys Mulling to Re-Price Digital Services

The city-based IT major is looking at putting a premium value for offering digital services in view of its growing demand from its global clients

0
Infosys, Digital, Services
We will relook at the pricing being offered depending on skills and experience, Infosys Chief Financial Officer Nilanjan Roy told reporters. Pixabay

 Software vendor Infosys is mulling to re-price digital services upwards in view of its high value business potential, an executive said on Friday.

“I think we have an opportunity on re-pricing digital services due to the scarce talent. We will relook at the pricing being offered depending on skills and experience,” Infosys Chief Financial Officer Nilanjan Roy told reporters here at a briefing on the company’s performance for the July-September quarter.

The city-based IT major is looking at putting a premium value for offering digital services in view of its growing demand from its global clients.

Revenue ($1,230 million) from digital services contributed 38 per cent to the company’s consolidated revenue of $3,210 million for the second quarter of this fiscal (2019-20), registering a 38 per cent yearly and 11 per cent quarterly growth.

Infosys, Digital, Services
I think we have an opportunity on re-pricing digital services due to the scarce talent. Pixabay

Chief Operating Officer U. B. Pravin Rao said digital services business in India was a small percentage of the overall pie, without quantifying the value.

“India digital business is a small percentage of our overall business in the domestic market. We are selective in what we want to do,” said Rao.

Also Read- Asymmetric Victories as in David and Goliath, Demoralizing for Arms Merchants

Rao also clarified the digital services business was not facing any headwind in India due to the economic slowdown, as the exposure was smaller in volume and the company being selective in offering it. (IANS)