Seshasayee replaces Kamath as Infy Chairman

 IT major Infosys on Friday appointed Board member R Seshasayee Non-Executive Chairman in place of K V Kamath, who is set to take over as head of the New Development Bank of the BRICS group in July.

Seshasayee, whose appointment is with immediate effect, has been an Independent Director on the company’s Board since January 2011 and is the chairperson of the Audit Committee. Kamath, an eminent banker, is stepping down as Chairman and Independent Director of the company, consequent to his nomination as President of the New Development Bank, the company said in a release.

Seshasayee’s other board positions include Non-Executive Vice-Chairman of Ashok Leyland and Chairman of IndusInd Bank. Kamath said: “I am proud to have served as a member of the Infosys Board and as its Chairman... the Board has made the most appropriate choice in nominating Mr Seshasayee as my successor.”