Infosys Names New CEO

India’s second-largest software exporter Infosys Technologies named K.V. Kamath as its new chairman, replacing co-founder N.R. Naryana Murthy when he retires in August and steps into an advisory role.

Kundapur Vaman Kamath, currently an independent director on the company’s board, will become chairman of Infosys from Aug. 21.

Infosys was established with just $250 in startup capital. The company now has more than 130,000 employees and posted sales of $6 billion in the first quarter of this year.

Infosys will also name three new members to the board at the company’s annual general meeting on June 11.

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