Murthy to step down as Infy chief

As Infosys celebrates 25 years since it was formed, the man, who, with six other entrepreneurs, gave shape to the software Bellwether in 1981 with a small corpus of Rs 10,000, has announced he will step down from the position of chairman and chief mentor of the company.

Speaking to reporters on the sidelines of the annual general meeting (AGM) of the company on Saturday, N R Narayana Murthy said he would retire on August 30, the day he turns 60.

However, he made it clear that he was ready to continue as the non-executive chairman of the company, if the board so decided.

"We have a rule in our company that at the age of 60, people relinquish their executive positions. If the board of directors, in their meeting on July 10 and 11, decide that I should continue as non-executive chairman for whatever term, I will be thrilled and privileged to continue in that capacity," Murthy added.

He said the board's meeting in July would determine who would be the new chief mentor.

"However, there are many smarter and younger people in the company, and chief mentor is an executive person, who comes to the office everyday and spends at least eight hours a day," Murthy added.

Once he retires, Murthy plans to have a separate office at his residence and will vacate the current office.

"I will keep an office in the Infosys Heritage Building and I may come to the office, perhaps once a month," he said. To a query on any plans to join politics, the Infosys chief said, there was no possibility. "Even if there is any offer, I will not," he said.

On how he would spend his time after retiring, Murthy said his position on the advisory board of the company and on the boards and advisory boards of many universities abroad, would keep him busy.

"All I can say is that I do spend a large part of my time outside India because I am on the board of several companies and on the advisory boards of many universities in the US, Europe and Asia-Pacific. So, that will keep me busy, definitely," he added.