New Delhi: IT major Infosys announced that in accordance with the retirement policy in place its Lead Independent Director Marti G Subrahmanyam will retire from the board on Monday.
Subrahmanyam joined the Infosys Board in April 1998. The company has decided not to appoint a new Lead Independent Director since the current Board Chair is independent.
Retirement age for independent directors appointed prior to October 15, 2010 is 65.
"His contribution as a director over the last 13 years has been significant and the Board could always look up to him for advice on a wide variety of areas and issues," KV Kamath, Chairman of the Infosys Board said in a statement.
Subrahmanyam is the Charles E Merrill Professor of Finance, Economics and International Business at the Stern School of Business at New York University.
He has been a visiting professor at leading global academic institutions, including the University of Melbourne in Australia, LUISS in Italy and Singapore Management University in Singapore.
"As I look back over the past 13 years as a member of the Infosys board, I feel a great sense of satisfaction. During this period, the company's revenues, profits and employee strength has grown one hundred times," Subrahmanyam said.
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