Infosys Ltd.’ independent director Ravi Venkatesan has resigned from the board with immediate effect today. Venkatesan plans to pursue an “exciting new opportunity”, said the company in an exchange filing.
“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 gaining momentum,” Venkatesan said.
An independent director since 2011, Venkatesan also served briefly as co-chairman before successfully transitioning this responsibility when Nandan Nilekani became the chairman in August 2017.
India’s second largest IT exporter had seen protracted stand-off between its founders led by NR Narayana Murthy and the previous management over issues of corporate governance and compensation to former executives. The tussle had led to the sudden resignation of the then Chief Executive Officer Vishal Sikka last year.
Salil Parekh joined the Bengaluru-based company as the new CEO in January this year.