The country's second largest software exporter, Infosys Ltd, on Saturday elevated three of its Executive Council members to the board and inducted as an additional director a non-executive director of Unilever plc.

Infosys' Chief Financial Officer, Mr V. (Bala) Balakrishnan; Senior Vice-President, Mr B.G. Srinivas; and Head of banking and capital markets, Mr Ashok Vemuri, were made directors while Ms Ann Fudge, who is also a director on the board of Novartis and General Electric, was inducted as an additional director. The company also announced that its head of innovation, Mr Subhash Dhar, has resigned to pursue a career with a start up.

This was among the last announcements that the man who built and led the $6-billion company made as Chairman of 33 years. “This is the strongest board that Infosys has ever had,” the outgoing Chairman, Mr N. R. Narayana Murthy, told a press conference after wrapping up the AGM.

Mr ‘Kris' Gopalakrishnan, Chief Executive Officer and Managing Director, said there were multiple leadership requirements at Infosys. He said that from among the new leaders, one of them may eventually become the CEO after the founders retire.

Earlier, the 30th AGM was a mix of sentiment, celebration, some adulation and flashes of nostalgia at the Christ University auditorium as Mr Narayana Murthy went about his business as usual. “Turning 30 is a good time to reminisce, reflect and look ahead, 30 is also the time to break new ground,” said Mr Murthy who retires in just over two months when he turns 65, on August 20. Mr K. V.Kamath has already been named his successor.

Outside, the June skies briefly opened up over the south Bangalore venue, but there were no tears or breast-beating over Mr Murthy's much presaged exit. ‘Bala' (CFO Mr Balakrishnan) paid his tributes to NRN the Superman, showing him in his presentation as Robot Rajini, as Anna ‘Mr Clean' Hazare, even the stylishly beefy Salman ‘Dabang' Khan, interspersed with hit Bollywood hit tunes.

Mumbaikar investor Shobana Mehta made passionate references about her favourite company and its outgoing Chairman. She sang Bollywood-inspired paeans, but did not forget the bottomline: Give us our bonus shares please. (The management has declared a final dividend of Rs 20 a share which comes to a total dividend for the year to Rs 60 a share). There were Kannada devotional lines on ‘Narayana the great' and an appeal for Bharat Ratna for the man.

Mr Murthy recalled the early days and the values of the company he and his six friends built in 1983. “The Infosys journey has been an integral part of my life. I have rejoiced in every significant milestone of the company, commiserated in every false step that this company has taken,” but he would leave Infosys with much peace of mind and a clear conscience.

Perhaps but for one thing: “As I leave the board, I feel sad that Infosys — voted most often as India's most respected company during 1995-2011 — has been issued a subpoena by a grand jury in the US on the B-1 visa issue. The issue will be decided on its merit in due course.”

The famous son of a school teacher signed off with, “My life story should be a confidence booster to every average person that he or she can make at least a small difference in this world.”

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