Sep 13, 2013, 08.52 PM IST
Industry experts and sources within Infosys suggest that Vemuri did not forsee a guaranteed opportunity to be the next heir to the chair and took up iGate's offer to take over the CEO post after Phaneesh Murthy's rather controversial exit.
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Ashok Vemuri: Infosys' loss; iGate's gain?
Industry experts and sources within Infosys suggest that Vemuri did not forsee a guaranteed opportunity to be the next heir to the chair and took up iGate's offer to take over the CEO post after Phaneesh Murthy's rather controversial exit.
Like this story, share it with millions of investors on M3
Ashok Vemuri: Infosys' loss; iGate's gain?
Industry experts and sources within Infosys suggest that Vemuri did not forsee a guaranteed opportunity to be the next heir to the chair and took up iGate's offer to take over the CEO post after Phaneesh Murthy's rather controversial exit.
Industry experts and sources within Infosys suggest that Vemuri did not forsee a guaranteed opportunity to be the next heir to the chair and took up iGate's offer to take over the CEO post after Phaneesh Murthy's rather controversial exit, reports CNBC-TV18's Kritika Saxena.
Who is Ashok Vemuri?
Ashok Vemuri joined Infosys in 1999 and has dabbled in various roles across the company. At the time of his exit, he was a member of the board and a member of the executive council of Infosys. In all, he was handling a portfolio worth USD 2 billion by heading America, Infosys' largest geography by revenue; and the manufacturing and engineering business of the company. In addition, he was the chairman of Infosys's China subsidiary and directed work within the Infosys foundation in America. But that's not all that makes him stand out. Vemuri was mentored by NRN Murthy himself and ex-Infosys CEO, Nandan Nilekani, and former CFO and HR head, Mohandas Pai.
Infy's loss?
At a time when Murthy needs senior trusted leadership familiar with the basic DNA of the firm to help create a turnaround plan, Vemuri's exit can be a setback. Vemuri's acumen of the US markets would have helped Infosys, especially at a time when the US economy is showing signs of turning a corner. Even more, his relationship with top clients like Citigroup can offer conciliation at a time when the company is not only grappling with internal changes but also battling tightening regulatory hurdles within the US. Moreover, Murthy has already lost senior leaders in the company, over the last three months, including Basab Pradhan, head of marketing and global sales and Sudhir Chaturvedi, head of the financial business in the US. A depleted leadership pool at Infosys can create uncertainty for investors and moreover bring doubts for clients.
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