Infosys, a global leader in consulting and technology, today announced the following leadership changes:
BG Srinivas, Global Head of Manufacturing & Engineering business will take over as the new leader of the company's Financial Services & Insurance business. Ashok Vemuri, present Global Head of its Financial Services & Insurance business will now lead the company's Manufacturing & Engineering business.
This change builds on our successful organization transformation last year to broaden key leadership experiences at Infosys. The transition builds on the significant contributions made by both BG Srinivas and Ashok Vemuri over the past decade as they have successfully spearheaded their respective businesses, incubated new businesses and expanded Infosys' footprint in the American and European markets. This change brings cross industry perspectives to accelerate transformation and innovation for our clients.
Announcing the new responsibilities, S D Shibulal, CEO and Managing Director, Infosys said,"We have always focused on giving our leaders a diverse set of experiences over time to fully realize their potential. Ashok and BG's track record in leading high growth organizations has been superb. This change allows them to leverage cross-industry experience to help our clients Build Tomorrow's Enterprise."
The changes are effective April 1, 2012. Ashok Vemuri and BG Srinivas, both members of the Infosys Board of Directors, will continue with their existing regional leadership responsibilities for the Americas and Europe, respectively.
About Infosys Ltd
Many of the world's most successful organizations rely on the 145,000 people of Infosys to deliver measurable business value. Infosys (infosys.com) provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow's enterprise.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2011 and on Form 6-K for the quarter ended June 30, 2011, September 30, 2011 and December 31. 2011. These filings are available at sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.