Major events in the history of Infosys

Here are some major events in the history of  Infosys, which on Saturday recalled founder and former chairman N R Narayana Murthy to act as executive chairman for five years.

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1981 - Infosys is set up by N.R. Narayana Murthy and six other engineers in Pune with initial capital of $250 mostly borrowed from their spouses.

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1983 - Relocates corporate headquarters to Bangalore, one of the first software companies to set up operations in the city that becomes India's Silicon Valley.

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1993 - Lists on Indian exchanges and is among first in India to introduce employee stock-option plan, a move to attract and retain talent.

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1999 - Becomes first Indian company to list on Nasdaq, raising the profile of the Indian outsourcing industry in the United States.

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2002 - Narayana Murthy hands over chief executive role to co-founder Nandan Nilekani. Murthy becomes chairman. Revenue reaches $500 million. Company launches back-office outsourcing services unit, Progeon.

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2006 - Murthy steps down as chairman after 25 years at the helm of the firm after reaching the company's retirement age of 60, continues as non-executive chairman and mentor.

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2007 - Infosys co-founder and chief operating officer Kris Gopalakrishnan takes over as chief executive from Nilekani, who takes up the role of co-chairman.

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2009 - Co-chairman Nandan Nilekani resigns to join Indian government to launch nationwide biometric identity card programme.

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2011 - Co-founder and chief operating officer S.D. Shibulal named chief executive and his predecessor becomes executive co-chairman.

Murthy retires as non-executive chairman and veteran banker K.V. Kamath, an independent director of Infosys, takes over as non-executive chairman. Board member and human resources chief T V Mohandas Pai quits.

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2013 - Infosys recalls Murthy to act as executive chairman for five years. Kamath, the current non-executive chairman, to take the role of lead independent director effective June 1.

Executive co-chairman S. Gopalakrishnan to be re-designated executive vice chairman, while current chief executive officer S.D. Shibulal to remain in his position.

(Source: Infosys website, Reuters)