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."
IT services major Infosys today 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 S D 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 percent to settle at Rs 3259.55 apiece on the BSE.
Infosys stock price
On March 28, 2014, Infosys closed at Rs 3257.75, up Rs 29.25, or 0.91 percent. The 52-week high of the share was Rs 3847.20 and the 52-week low was Rs 2190.00.
The company's trailing 12-month (TTM) EPS was at Rs 142.80 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 22.81. The latest book value of the company is Rs 627.95 per share. At current value, the price-to-book value of the company is 5.19.
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