Kiran Mazumdar-Shaw to retire from Infosys board; D Sundaram appointed lead Independent Director

Industrialist Kiran Mazumdar-Shaw will retire from Infosys' board, the company said in a filing to the exchanges on Thursday. D. Sundaram has been appointed as lead Independent Director on the company board, the filing added.

“Kiran Mazumdar-Shaw to retire from Infosys board; D Sundaram appointed Lead Independent Director,” the filing read. "The composition of the board and its committees continue to be in compliance with the requirements of applicable laws," it added.

Infosys shares were trading at Rs 1,378.40 on NSE, down Rs 10.85 or 0.78%.

Shaw is Executive Chairperson of Biocon, a biotechnology company based in Bengaluru.

D. Sundaram, Vice Chairman & Managing Director, TVS Capital Funds Ltd, according to information available on Infosys website.

Sundaram's experience spans corporate finance, business performance, monitoring operations, governance, mergers & acquisitions, talent/people management and strategy, the website said.

Two senior level exits have happened in the country's second-largest IT firm in a span of six months. Mohit Joshi who resigned from the position of Infosys' President joined rival Tech Mahindra as its Chief Executive Officer and Managing Director.

Joshi also led the Finacle banking platform business and AI automation portfolio for Infosys. He was also responsible for the company’s internal Chief Investment Officer (CIO) function and Infosys Knowledge Institute and held executive responsibility for large deals across the company.

Infosys COO and president Ravi Kumar S also quit in October and joined Cognizant as its chief executive.

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