Best of Infosys yet to come, Murthy tells staff

In a bid to boost sagging staff morale, Infosys Executive Chairman NR Narayana Murthy has written to employees, assuring them of good times ahead.

In a letter to the company’s 150,000-plus employees, Narayana Murthy said that the best of Infosys is yet to come, revealed sources in the company.

He also added that the search for the new CEO was progressing as planned, allaying concerns that had cropped up after co-President BG Srinivas’ resignation from the company on Wednesday. Srinivas was one of the contenders for the CEO’s post.

CEO and Managing Director SD Shibulal will manage Srinivas’ portfolio for now.

“While the search is on, the Infosys Board, Shibu (SD Shibulal), Kris (S Gopalakrishnan) and myself will continue to steer the company in the direction we have set for Infosys.”

Murthy’s morale-booster comes at a time when the company is lagging behind peers such as TCS, Cognizant and HCL for the third year running.

“As we embark onto newer and better horizons for our employees and our clients, we will see some transition in leadership. Please rest assured that the leadership changes take into account the best interest of the company as a whole,” said Murthy.

The letter also assured employees that the company has a strong and large cadre of leaders, some of them in their 40s or 30s, who have shouldered enormous responsibilities over the years.

The message seemed to have soothed investors as the stock went up marginally, by 0.59 per cent, to close at ₹2,941.50. It had tumbled 7.8 per cent on Thursday.

Since Murthy took over the reins, Infosys has seen a spate of role changes and top management exits. He had said in an investor call in February that most of the people who left the company were drawing high salaries and not adding value.

The company has seen attrition hitting an all-time high of 22.4 per cent, almost double that of TCS. It is likely that more people will leave the company.

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