Infosys on Friday announced that Ravi Venkatesan, the company's independent director, has stepped down with immediate effect to accept a new exciting opportunity.
In a statement to the exchanges, the IT behemoth said, "This is to inform that Ravi Venkatesan, Independent Director has resigned as a director of the company with immediate effect to pursue an exciting new opportunity. Accordingly, the board took note of the same".
Last year, the second largest IT company, Infosys appointed Venkatesan as the co-chairman of the board. Since 2011, he had been on the company's board. Before joining Infosys, Venkatesan served Microsoft India between 2004 and 2011 as its chairman.
In a statement Venkatesan said, "I joined the Board at a time when Infosys was beginning the complex journey of transitioning from founder-led to professional management. This was also a time of tectonic industry shifts. I am pleased that this mission has been accomplished. Infosys is strong, in good hands, and is gaining momentum".
Ventakesan and the former chairman of Infosys, R Seshasayee, emerged as troubleshooters for the company at a time when former CEO and MD Vishal Sikka was serving his last few months with the company after several months of disagreements with NR Narayana Murthy, the company's co-founder. Sikka resigned the company in August 2017.
Venkatesan called his 7 years stint with Infosys board as "exciting, rewarding and eventful". "l feel fortunate to have been part of this extraordinary company at a seminal moment in its history and to have worked with so many fine colleagues on the Board and in management. I wish Infosys and all Infoscions the greatest success in the coming years," he added.
Venkatesan is also on the boards of the Rockefeller Foundation.
Chairman of the Infosys Board Nandan Nilekani said, "I thank Ravi for his pivotal contributions to Infosys in a period of important transitions and towards a digital-first future".
The chairman indicated that Venkatesan will be given an opportunity in the social sector. Nilekani further called him " a champion for driving social impact and it is desire to do more". He added, "I am delighted that he will be pursuing an exciting opportunity in this area. On behalf of my colleagues on the Board, I wish him all success with his new endeavour".
Nilekani hinted that Venkatesan will pursue a future opportunity in the social sector. Calling him "a champion for driving social impact and it is desire to do more," Nilkeani added, "I am delighted that he will be pursuing an exciting opportunity in this area. On behalf of my colleagues on the Board, I wish him all success with his new endeavour."
Venkatesan is an alumni of IIT Bombay and Purdue University. And also has an MBA from Harvard Business School.