Narayana Murthy to step down on Sunday

After guiding Infosys to become one of the most admired IT companies in the world, N R Narayana Murthy will step down as its executive chairman on Sunday, amid firm indications that he would continue to call the shots.

The Nasdaq-listed firm has kept the post vacant and announced last month that he would serve as the non-executive chairman and continue as the chief mentor from August 21.

The board of directors had also appointed Murthy, who turns 60 on Sunday and will retire as per the company service rules, as an additional director of the company.

"I have enjoyed doing what I did in creating this company...nurturing it so far," Murthy, who believes in promising less and delivering more, told PTI.

Hinting that he would continue to play a key role in Infosys, he said: "The role of the non-executive chairman is primarily to preside over the Board to make sure that the succession planning of the CEO is well-handled to ensure that the Board discharges its responsibility in making sure there is a good strategy with the company and that strategy is well executed and that the finest principles of corporate governance are followed".

Murthy said in his earlier role (executive position), he had an employee number, had to come to office every day and he was receiving salary on a monthly basis.

"I would lose all of that. I won't have an employee number. I will not have to come to the office everyday and I won't receive a salary".

Noting that he was on the board and advisory boards of a few companies and universities, Murthy said: "So, I will be as busy as I am today, perhaps busier".

While being categorical that he would not have an "Act-II"-- that Infosys would continue to be his first and last love and he would not have any other venture - he said: "Certainly, I will encourage entrepreneurs. I will mentor them. I would provide whatever help I can".

Murthy has often termed Infosys as a "shining example of the success of economic reforms" initiated in 1991. But the man, who is not known to mince words, has also said reforms have not touched the poor and doesn't make sense unless it addressed their basic needs.

He has also ruled out a career in politics post-retirement saying he is not suited for it. "Politics in India is a very complex canvass with multiple divides -- urban and rural, rich and poor, and educated and not-so-educated. So, I don't think I am competent to handle such a complex canvass," he had said.