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Infosys Commences Search For Shibulal's Successor

Infosys Ltd said the Nomination Committee of the company's board had commenced the search to select the successor to S.D. Shibulal, Chief Executive Officer and Managing Director.

Shibulal, one of the seven Infosys founders, has expressed his desire to retire as the CEO and MD and as a member of the board either on the date of the last board meeting before his superannuation - January 9, 2015 - or when his successor is ready to assume office, whichever is earlier.

The Nomination Committee will shortlist and evaluate an internal slate of candidates with the assistance of Development Dimensions International (DDI), a company specializing in corporate executive evaluations. The board has appointed Egon Zehnder to assist the Nominations Committee in identifying an external slate of candidates.

At the BSE, Infosys shares are currently trading at Rs.3,168.05, down 1.20 percent from the previous close.

by RTT Staff Writer

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