Monday, August 21, 2006

NR Naryana Murthy Steps down

Infosys co-founder, Narayan Murthy, who believes in leading by example, has quit the position of chairman, taking retirement at the age of 60, on 20 August 2006. He held the helms of Infosys for the last 25 years. This decision looks like is on the lines of Microsoft chairman, Bill Gates, who declared that he would quit the office in 2008.

Nandan Nilekani will call the shots at Infosys as CEO and managing director, while Murthy will serve as non-executive chairman of the board and chief mentor. The Infosys board recently voted to let Murthy continue as the non-executive chairman and chief mentor, and has inducted him as an additional director on the board after his retirement. Somebody with only knowledge as his capital and somebody who holds on to values that are middle-class is able to do not only well but outstandingly well.Narayana Murthy served as CEO of Infosys for twenty years, and was succeeded by co-founder Nandan Nilekani in March 2002.

This news was no surprise for most of the Infoscions and the industry as well. Moreover Narayan Murthy stepped down from the post on Sunday and not a working day. This was to ensure that the work does not get hampered in anyways. At the juncture when Infosys is setting global standards every day and is amongst the world's most sought after companies, Narayan Murthy's decision of stepping down creates yet another first for the IT industry. Infosys was the first company to come out with the title of Chief Mentor and the foremost company in India to come out with the ESOPs. When a company is at the peak of success, its promoters wish to be at the helm of affairs. On the contrary Murthy took a step in the opposite direction and paved the way for younger talent to grow. This is perhaps the best way to create multilevel leadership within an organization which is the biggest problem of IT industry now.

Hats off this gentlemen who put India on the World's IT Map and did all this very humbly.

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