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Infosys founder plays down top management exits; focuses on innovation

14
Jun
2014

By Lehar Maan and Soham Chatterjee BANGALORE (Reuters) – Infosys has enough senior managers to run the business even if more executives leave Indias second-largest IT services exporter, its founder said on Saturday, after a spate of staff exits triggered concerns about a leadership vacuum. N.R. Narayana Murthy played down the departure of at least 11 senior executives since he was brought back from retirement in June last year to help regain market share, saying some of them were low performers. Infosys has for the first time picked an outsider Vishal Sikka, former senior executive at German software company SAP AG as CEO, as it seeks to boost sales of high-margin services and stem a staff exodus. The annualized rate of attrition at Infosys – the number of staff leaving or retiring – was a record 18.7 percent at end-March, 2.4 percentage points higher than a year earlier, out of a workforce of more than 160,000.

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