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The country's second-largest software services firm Infosys today said its Board has appointed R Seshasayee as the non-executive Chairman with immediate effect to replace veteran banker K V Kamath.
Kamath is stepping down from his position as Chairman of the Board and as an Independent Director at the Bangalore-based firm following his nomination as President of the New Development Bank, which is being set up by BRICS countries.
Seshasayee has been an Independent Director on the Board since January 2011 and is the chairperson of the Audit Committee, Infosys said in a statement.
He is also the Non-Executive Vice-Chairman of Ashok Leyland and Chairman of IndusInd Bank.
Seshasayee said he will substantially disengage from his other current responsibilities in due course.
"In order to devote requisite time and attention to this responsibility, it is my intention to substantially disengage from my other current responsibilities in due course," he added.
Seshasayee further said: "I look forward to working even more closely with the Infosys Board and management team as we navigate this period of transformation for the company."
Kamath said: "The Board has made the most appropriate choice in nominating Seshasayee as my successor, given his vast and varied experience in leading large public companies, and his strong contribution to Infosys during the last four years of his association. Infosys will benefit greatly from his sagacity."
