Infosys top decision-making body stands dissolved starting FY15

IT services major Infosys on Friday announced its top decision-making body, Executive Council, will be dissolved effective April 1, 2014.

Also, the Bangalore-headquartered firm appointed nine executive officers, including executive chairman N R Narayana Murthy, chief executive and managing director S D Shibulal, vice chairman S Gopalakrishnan and chief financial officer Rajiv Bansal.

In a regulatory filing to the US Securities and Exchange Commission (SEC), Infosys said, "As reported previously by the Company, Executive Council of the company will be dissolved effective 1 April, 2014. Pursuant to this, effective 1 April, 2014, the company will have nine executive officers."

In January this year, Infosys, India's second largest software services exporter, had announced the move to dissolve its top decision-making body with effect from April 1.

The other Infosys officials who have been appointed as executive officers are board member Srinath Batni, newly appointed presidents Pravin Rao and B G Srinivas, chief risk officer and company secretary Parvatheesam K and group head (human resource development) Srikantan Moorthy, it added.

The appointment of executive officers has been made in line with SEC regulations.

Shares in Infosys, on Friday, ended at Rs 3259.55 apiece on the BSE, up 0.96 per cent from the previous close.