Infosys to dissolve its Executive Council

NEW DELHI: IT services major Infosys announced that its top decision-making body, the Executive Council, will be dissolved effective April 1, 2014.

Also, the Bangalore-headquartered firm appointed nine executive officers, which include executive chairman NR Narayana Murthy, CEO and managing director SD Shibulal, vice chairman S Gopalakrishnan and CFO Rajiv Bansal.

In a regulatory filing to the US Securities and Exchange Commission (SEC), Infosys said: "As reported previously by the company, Executive Council of the company will be dissolved effective 1 April, 2014. Pursuant to this, effective 1 April, 2014, the company will have nine executive officers."

In January this year, India's second largest software services exporter had announced the move to dissolve its top decision-making body with effect from April 1.

The other Infosys officials who have been appointed as executive officers are board member Srinath Batni, newly appointed presidents Pravin Rao and B G Srinivas, chief risk officer and company secretary Parvatheesam K and group head (Human Resource Development) Srikantan Moorthy, it added.

The appointment of executive officers has been made in line with SEC regulations.

Infosys shares today rose by 0.96% to settle at Rs 3259.55 apiece on the BSE.

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