India's second-largest software services exporter Infosys Ltd has appointed BG Srinivas and UB Pravin Rao as presidents of the company with immediate effect. The duo will report to the information technology behemoth's chief executive officer and managing director SD Shibulal.
Rao currently serves as whole-time director, member of executive council and global head for retail, consumer packaged goods, logistics and life sciences. Srinivas is head of Europe, member of executive council, global head of financial services and insurance unit and chairman of Infosys Lodestone, a consulting company which Infosys acquired in September 2012.
While Srinivas will focus on global markets, Rao will take care of global delivery and service innovation, Infosys said in a filing to the stock exchanges.
Along with the appointments, the business portfolios of the company will be realigned as per which financial services, insurance, manufacturing, engineering services, energy & communications, Infosys Public Services, Infosys Lodestone, Strategic Global Sourcing, marketing and alliances will report to Srinivas.
On the other side, Rao will take care of retail, consumer packaged goods and logistics, life sciences, resources & utilities, services, growth markets, cloud & mobility, quality & productivity and Infosys Leadership Institute.
"These changes will further enhance our focus on deepening client relationships, increasing market share, creating service differentiation through innovation and agility in execution," Shibulal said in the statement.
Meanwhile, the company also said that the executive council will cease to exist from April 1.
Infosys is the country’s second-largest IT services provider, which reported a series of disappointing quarterly results of late. Co-founder NR Narayana Murthy came back in an executive role in June in order to steer back the fortunes of Infosys which has been facing severe competition from players like Cognizant Technologies.
Since then there has been a series of top executive movements from the firm in what is believed to be linked with the restructuring initiated by Murthy.
Recently, Infosys director V Balakrishnan—who was the head of Infosys BPO, Finacle and India Business Unit and also served as chairman of Infosys Lodestone—resigned, making it the eight big exit from the firm in the last six months.
(Edited by Joby Puthuparampil Johnson)