Infosys inducts four to board

BANGALORE: Infosys Technologies Ltd., India's No. 2 software services exporter, on Saturday inducted four new members to its board and said its head of innovation has resigned.

Infosys said Subhash Dhar, senior vice president and corporate head of innovations and group head of sales and marketing, has decided to leave the company for personal reasons.

"(Dhar) has said he is looking at a start-up, of becoming an entrepreneur," Chairman N.R. Narayana Murthy said at a media briefing after its annual general meeting in the south Indian city of Bangalore.

In April, another top executive at Infosys human resources chief T.V. Mohandas Pai announced his decision to quit the company.

Murthy, the founder-chairman who is set to retire from the post of chairman in August, presided over the annual general meeting of the company for the last time.

Bangalore-based Infosys announced top management changes in April linked to the retirement of Murthy and stuck to its practice of giving its founders a shot at running the firm.

The company on Saturday named Chief Financial Officer V Balakrishnan, senior vice presidents B G Srinivas and Ashok Vemuri to the board effective immediately.

Ann Fudge, a non-executive director at Unilever, Novartis  and General Electric, was also named additional director. Fudge's appointment is effective Oct 1, 2011.

Infosys, which counts Goldman Sachs and BT among it client is in the process of reorganising its business divisions as it struggles to match growth expectations.

The company is battling aggressive competition from larger rival Tata Consultancy Services Ltd  and Cognizant Technology which are steadily chipping away at its market share.

Copyright Reuters, 2011