India has very few heroes whom you can look up to and say “I am proud to be an Indian” and Narayana Murthy is one of them.
The IT giant Infosys re-appointed Murthy as Executive Chairman of the company. Speaking about the sudden decision taken by the company, Murthy was quoted as saying, “This calling was sudden, unexpected, and most unusual. But, then, Infosys is my middle child. Therefore, I have put aside my plans-in-progress and accepted this responsibility.”
Speaking further the said that though he owns only 5% of Infosys equity, he has 100% emotional equity invested in Infosys.
Infosys stock jumped as much as 9% on Monday and his return has injected a shot of enthusiasm into the company that has of late been in the news more for its serial under-performance.
Narayana Murthy is an Indian businessman and the co-founder of Infosys, a multinational corporation providing business consulting, technology, engineering, and outsourcing services. Murthy was born and raised in Mysore, Karnataka, studied Electrical Engineering at National Institute of Engineering, University of Mysore, and M.Tech from Indian Institute of Technology Kanpur.
Before starting Infosys, Murthy worked with Indian Institute of Management Ahmedabad as chief systems programmer and Patni Computer Systems,Pune (Maharashtra). He started Infosys in 1981 and served as its CEO from 1981 to 2002 and as Chairman from 2002 to 2011. In 2011, he stepped down from the board and became Chairman Emeritus. On 1 June 2013, Murthy was appointed as an Additional Director and the Executive Chairman of the board, for a period of five years.
Narayana Murthy has been listed among the 12 greatest entrepreneurs of our time along with Apple’s late chief Steve Jobs, Microsoft founder Bill Gates and Facebook CEO Mark Zuckerberg by Fortune magazine. He has been described as Father of Indian IT sector by Time magazine due to his contribution in outsourcing revolution in India. Murthy has also been honoured with the Padma Vibhushan, India’s second highest civilian award and Padma Shri, India’s fourth highest civilian award.
Murthy started his career at IIM Ahmedabad as chief systems programmer. There he worked on India’s first time-sharing computer system and designed and implemented a BASIC interpreter for Electronics Corporation of India Limited. He started a company named Softronics. When that company failed after about a year and a half, he joined Patni Computer Systems in Pune.
Murthy along with other six software professionals founded Infosys in 1981 with an initial capital injection of Rs 10,000, which was invested by his wife Sudha Murthy. Murthy served as the CEO of Infosys for 21 years from 1981 to 2002 and was succeeded by co-founder Nandan Nilekani in 2002. At Infosys he articulated, designed and implemented the Global Delivery Model for IT services outsourcing from India. He held the executive position of Chairman of the Board from 2002 to 2006, when he became the “non-executive” Chairman of the Board and Chief Mentor. In August 2011, he retired completely from the company and taking the title Chairman Emeritus.
On 1 June 2013, Murthy returned to Infosys as Executive Chairman and Additional Director.