Info-tech

Former Infosys executive DN Prahlad inducted as independent director

Our Bureau Bengaluru | Updated on January 16, 2018 Published on October 14, 2016

Former Infosys executive DN Prahlad has been appointed as an independent director putting to rest some concerns over the constitution of the Infosys Board.

India’s second largest software services exporter in a statement said that Prahlad, who played a key role in the rapid growth of Infosys, will help the company go through the transition phase that it is going through at present.

R Seshasayee, Chairman of the board, said: “We are delighted to welcome Prahlad, a distinguished technologist to the board. Prahlad brings with him, not only his deep knowledge of the company but also sharp insights into the industry.”

Prahlad is the founder and CEO of Surya Software Systems, a privately held company based in Bengaluru.

According to his LinkedIn profile, Prahlad has a BE in electrical engineering from Indian Institute of Science. Further, he is on the advisory board of Computer Science and Automation Department of Indian Institute of Science, Bangalore.

In March this year, some advisory firms voicing their concerns over reappointment of Jeffrey Lehman as a Board member, along with the appointment of Punita Kumar-Sinha, the wife of Union Minister Jayant Sinha as an independent director in the company, citing conflict of interests. Both of them now are in the board as shareholders seemed to have given their nod to these appointments.

For Lehman, the opposition was on the grounds of his long tenure of nine years on the Infosys Board, which would affect his independence, said Investor Advisory Services (IiAS), another proxy advisory firm.

7 independent directors

Out of the 10 members in the board, seven of them serve as independent directors. This includes Ravi Venkatesan, former Microsoft India Chairman, who is currently the Chairman of the Board at Bank of Baroda, Roopa Kudva, Managing Director of Omidyar Network India Advisors and Omidyar Network partner and formerly the MD and CEO of CRISIL, Kiran Mazumdar-Shaw, Chairperson and Managing Director of Biocon and John W. Etchemendy, the Provost of Stanford University and Patrick Suppes Family Professor in the School of Humanities and Sciences.

Published on October 14, 2016
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