Satwalekar nominated Infosys director

Infosys Technologies has announced the appointment of Deepak Satwalekar, managing director & CEO of HDFC- Standard Life Insurance, as the lead independent director in line with the company's commitment to good corporate governance practices.

The 22nd annual general meeting of the company was held on June 14.

Prof Marti Subrahmanyam, independent member of the board at Infosys, chaired the AGM.

Infosys used a non-mandatory postal ballot as an informal option to assess the general view of the absentee shareholders on the resolutions set out in the notice.

At the AGM, the members of the company approved the reappointment of Srinath Batni as wholetime director and Dr Omkar Goswami, Senator Larry Pressler and Rama Bijapurkar as directors of the company.

Sridar Iyengar was appointed as a director of the company.

The members also approved the deletion of Article 107 of the Articles of Association, which provided that as long as N R Narayana Murthy and/or his relatives held not less than 5 per cent of the issued equity share capital of the company, Narayan Murthy shall be the managing director of the company and shall not be liable to retire by rotation.

UNI