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Infosys: K V Kamath to take the chair from today


Infosys: K V Kamath to take the chair from today
After N R Narayana Murthy's warm bidding adieu, K V Kamath, the renowned banker, is all set to take the chair from today as the first non-founder chairman of the $6.1-billion global software firm.

The sovereign debt crisis in Europe and slow recovery in the US has put lot of pressure on Infosys, which has to be deal out in wise way.

Kamath has reassured that Infosys, which has been going through rough paths due to global turmoil in recent months, will embrace change wholeheartedly while preserving the ethos of the company's founder, NR Narayana Murthy.

"We understand what the challenges are and our response is ready," Kamath told in an interview with ET.

"If I look at Infosys, it has been a company that for a long time adapted to markets. I'm very clear that the adaptation to the market which is just now being called for will be done," Kamath said.

Kamath, who led ICICI Bank Ltd, India"s largest private sector lender for 15 years will be introducing new strategies for the IT company's growth.

Kamath also indicated that the company might increase its mergers and acquisition budget, which currently stands at US$1 billion.

He also added, "You cannot buy just for the sake of buying. However, if there is a good opportunity, Infosys continues to look at all verticals. I would think, given the current situation, that could have more focus. Certainly, the changes that are happening will throw more on your table. There could be very interesting options as we go along."

Story first published: Monday, August 22, 2011, 14:09 [IST]
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