Daunting challenge to rebuild Infosys: Murthy
Bangalore: Recalled to ride out the bad times for Infosys, its chairman NR Narayana Murthy said the task of rebuilding a "desirable" Infosys would take at least 36 months and there would be some tough decisions resulting in "pain."
"The challenge is daunting and the task is tough," said Murthy in a candid address to shareholders at the 32nd Annual General Meeting here, two weeks after he was recalled and made Executive Chairman of Infosys which has reported poor earnings disappointing investors.
He said "the task of rebuilding a desirable Infosys will take at least 36 months, even with a high quality team and full dedication of every Infoscion. In the process, there will be some tough decisions resulting in pain as we move forward." Murthy sought the shareholders "understanding, support and encouragement in this exciting and rewarding journey of the next three years."
Murthy, who had shed executive role seven years ago and retired as head of Infosys in August 2011, was made Executive Chairman on June 1, replacing KV Kamath during whose tenure the company shares slumped 15 per cent. In a move that surprised many, Murthy had also brought in his son Rohan Murty as his executive assistant.