PRESS RELEASE
INFOSYS ANNOUNCES CHANGES TO BOARD OF DIRECTORS
Bangalore - December 20, 2013: Infosys, a global leader in consulting,
technology and outsourcing solutions, today announced the following changes to
the Board of Directors.
Resignation of Mr. V. Balakrishnan
Mr. V. Balakrishnan, has conveyed his intention to resign as a Member of the
Board and from the services of the Company. The resignation is effective
December 31, 2013.
The Board places on record deep sense of appreciation of the services rendered
by Mr. V. Balakrishnan during his tenure as the Member of the Board, Chief
Financial Officer of the Company and then as the Member of the Board in-charge
of Infosys BPO, Lodestone, Finacle, India Business Unit and Global Immigration.
Mr. N R Narayana Murthy, Executive Chairman said "Bala has been an early
adopter and a keen anchor-builder of Infosys. It is difficult to imagine
Infosys without Bala's passion, commitment, and intellect. The Board and every
Infoscion thank Bala for his wonderful contribution and wish him great success
in his future endeavors'".
Mr. S. D. Shibulal, Chief Executive Officer and Managing Director said "Bala
during his two decades of association with Infosys, has played a pivotal role
in building the finance function and has been a key driver behind all of our
achievements in areas ofinvestor relationsand corporate governance. Over the
last few years, he has also provided leadership to BPO, Finacle, India Business
Unit, Global Immigrationand most recently, to Lodestone. I would like to wish
him the very best in all his future endeavors".
Balakrishnan said "I have enjoyed every moment of my stint at Infosys and it was
a great learning experience. While my heart will always be with Infosys my mind
wants to do something beyond Infosys. I thank all my colleagues who supported
and encouraged me during my career at Infosys. I wish Infosys all the very best
in its future endeavors."
Induction of Mr. U B Pravin Rao as aWhole-time Director
The Nominations and Governance Committee of the Company recommended the
induction of Mr. U B Pravin Rao as a Whole-time Director of the Company.
Mr. Pravin Rao is currently a Member of the Executive Council, Senior Vice
President and Global Head-Retail, Consumer Packaged Goods, Logistics and Life
Sciences.
Mr. Rao also serves as a Member of the Board of Infosys Lodestone. Mr. Rao is
also the Director of the Infosys Leadership Institute (ILI).
Mr. Rao holds a degree in electrical engineering from Bangalore University,
India.
Welcoming Mr. Pravin Rao, Mr. N. R. Narayana Murthy, Executive Chairman, said,
"I am very happy that Pravin will be joining the Board. I have worked with
Pravin closely and have benefited immensely from hiswisdom. My congratulations
to him."
Induction of Ms. Kiran Mazumdar-Shawas an Independent Member of the Board
The Nominations and Governance Committee of the Company recommended the
induction of Ms. Kiran Mazumdar-Shaw as an Independent Member of the Board.
Ms. Kiran Mazumdar-Shaw is the Chairman & Managing Director of Biocon Limited a
biotechnology company based in Bangalore, India.
Ms. Shaw is highly respected in the corporate world and has been named among
TIME magazine's 100 most influential people in the world. Recently, Economic
Times placed her at India Inc's top 10 most powerful women CEO for the year
2012. Her pioneering efforts in biotechnology have drawn global recognition
both for Indian Industry and Biocon.
Ms. Shaw received a graduate honors degree in Zoology from Bangalore University
(1973) and qualified as a Master Brewer from Ballarat University, Australia
(1975). Ms. Shaw has also received many honorary Doctorates in recognition of
her pre-eminent contributions to the field of biotechnology.
Welcoming Ms. Shaw, Mr. N. R. Narayana Murthy, Executive Chairman said, "Kiran
is a well-recognized and respected corporate leader. She will bring immense value to
the board. I am honored to welcome her to our Board".
The Board of Directors will adopt appropriate resolutions on the above
recommendations of the Nominations and Governance Committee, at the meeting
scheduled for January 10, 2014.
About Infosys
Infosys is a global leader in consulting, technology and outsourcing solutions.
We enable clients, in more than 30 countries, to stay a step ahead of emerging
business trends and outperform the competition. We help them transform and
thrive in a changing world by
co-creating breakthrough solutions that combine strategic insights and
execution excellence.
Visit www.infosys.com to see how Infosys (NYSE: INFY), with US$7.4 billion in
annual revenues and 160,000+ employees, is Building Tomorrow's Enterprise®
today.
Safe Harbor
Certain statements in this release concerning our future growth prospects are
forward-looking statements, which involve a number of risks and uncertainties
that could cause actual results to differ materially from those in such
forward-looking statements. The risks and uncertainties relating to these
statements include, but are not limited to, risks and uncertainties regarding
fluctuations in earnings, fluctuations in foreign exchange rates, our ability
to manage growth, intense competition in IT services including those factors
which may affect our cost advantage, wage increases in India, our ability to
attract and retain highly skilled professionals, time and cost overruns on
fixed-price, fixed-time frame contracts, client concentration, restrictions on
immigration, industry segment concentration, our ability to manage our
international operations, reduced demand for technology in our key focus areas,
disruptions in telecommunication networks or system failures, our ability to
successfully complete and integrate potential acquisitions, liability for
damages on our service contracts, the success of the companies in which Infosys
has made strategic investments, withdrawal or expiration of governmental fiscal
incentives, political instability and regional conflicts, legal restrictions on
raising capital or acquiring companies outside India, and unauthorized use of
our intellectual property and general economic conditions affecting our
industry. Additional risks that could affect our future operating results are
more fully described in our United States Securities and Exchange Commission
filings including our Annual Report on Form 20-F for the fiscal year ended
March 31, 2013 and on Form 6-K for the quarters ended June 30, 2013 and
September 30, 2013. These filings are available at www.sec.gov. Infosys may,
from time to time, make additional written and oral forward-looking statements,
including statements contained in the company's filings with the Securities and
Exchange Commission and our reports to shareholders. The company does not
undertake to update any forward-looking statements that may be made from time
to time by or on behalf of the company unless it is required by law.
For Further information please contact:
Asia Pacific EMEA The Americas
Sarah Vanita Gideon Paul de Lara Ken Montgomery
Infosys, India Infosys, UK GolinHaris for Infosys
Phone: +91 80 41563373 Phone: +44 2075162748 Phone: +1 415.318.4399
Sarah_Gideon@Infosys.com Paul_deLara@Infosys.com KMontgomery@GolinHarris.com