KV Kamath likely to succeed Infosys’ Murthy as chairman

Mangalore Today News Network

Bangalore, August 16: KV Kamath, the man who transformed ICICI from a stodgy, old-school bank into an aggressive and nimble-footed lender, is being considered for the post of chairman at Infosys Technologies, India’s software bellwether. Though Infosys’ board nominations committee has not taken any final decision, Mr Kamath’s business credentials, wide-ranging contacts, name recognition, and trouble-shooting expertise have propelled him ahead of others, people close to the development said.

Mr Kamath, 62, is a member of the Infosys nominations committee. Last year, he helped ICICI Bank manage a successful leadership transition, passing on the baton to Chanda Kochhar before stepping down as CEO in May. Narayana Murthy, who will retire from Infosys in August next year, and other Infy founders hold Mr Kamath in high regard.

When contacted by ET on Sunday, Cornell University professor Jeffrey Sean Lehman, who along with Mr Kamath, and HDFC Standard Life CEO, Deepak M Satwalekar, is responsible for finding Mr Murthy’s replacement, declined to share any specific details. But he said it’s technically feasible for one of the nominations committee members to be considered for the chairman’s post.

“You may be rest assured that Infosys is taking the selection of the next Chair with great seriousness,” said Mr Lehman, the committee chairman. “I trust you will understand that we do not respond to speculation about who that person might be. We will make a decision and we will make a public announcement with appropriate lead time before Mr Murthy steps down,” he added. Mr Satwalekar added, “There is no firming up as of now. It would not be accurate to say that he has been chosen.” ET has learnt that the announcement is expected later year.

Detailed emails sent to Mr Murthy and Mr Kamath remained unanswered until Sunday evening. Mr Kamath could not be reached on his cell phone either.

As reported by ET last week, Infosys has begun the search to replace Mr Murthy on the board of Infosys. India’s most-admired software services company will also consider changes to its current management structure. Mr Murthy, one of India’s most-admired entrepreneurs, is now the non-executive chairman of Infosys.

Some of the other changes being discussed within Infosys are the possible elevation of SD Shibulal, a founder and current COO, to CEO next year. Unconfirmed reports suggest that Kris Gopalakrishnan, the current CEO, may be considered for the position of vice-chairman. Both founders could serve in the new roles till they reach 60, which would be in 2014.

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