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Infosys lifts suspense over Rohan Murty's tenure at the firm
Seeking to nip the talk of Infosys Chairman N R Narayana Murthy's son being prepared for a bigger role in the company, its CEO and MD S D Shibulal said Rohan's term will end with that of his father.
The senior Murthy, who co-founded the company with six other engineers in 1981, was last year brought back from retirement to the helm of affairs after the Bangalore-based firm posted lacklustre results.
He joined back in June, 2013 as Executive Chairman, bringing along his son Rohan Murthy as his executive assistant.
Since then, many have expressed apprehensions that Rohan is being groomed for the top job at the country's second largest software services firm.
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Infosys lifts suspense over Rohan Murty's tenure at the firm
"At this point in time, Narayana Murthy has clearly articulated that Rohan has come in a specific role and his term will end with the end of Narayan Murthy's term," Shibulal told CNBC TV18.
With the exit of many senior level executives - many of whom were considered to be in the fray for the CEO position after Shibulal's retirement next year - the rumours only grew strong.
"Rohan is acting as Mr Murthy's Executive Assistant and his term will end with Mr Murthy's term. It was very clearly articulated. At this point in time, there is no other change in policy," Shibulal said.
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Infosys lifts suspense over Rohan Murty's tenure at the firm
Infosys reported a 25 per cent jump in consolidated net profit for the quarter ended March 31, 2014, helped by large deals and an uptick in client spending in Europe.
The firm posted a consolidated net profit at Rs 2,992 crore (Rs 29.92 billion) for the fourth quarter of last fiscal from Rs 2,394 crore (Rs Rs 23.94 billion) in the year-ago period.
Revenue for the reported quarter rose 23.2 per cent to Rs 12,875 crore (Rs 128.75 billion) from Rs 10,454 crore (Rs 104.54 billion).
However, the country's second largest software services exporter said it expects its US dollar revenues to be in the range of 7-9 per cent for the 2014-15 fiscal, which is way below industry body Nasscom's projection of 13-15 per cent.