Infosys Appoints Ravi Venkatesan As Co-chairman

The Infosys management on Thursday appointed Ravi Venkatesan as Co-chairman of the Board. This was decided at a meeting held on 13 April, 2017 and announced along with company’s Q4 results announcement.

“Ravi will help me enhance the board engagement in supporting the Management in execution of company’s strategy”, said R. Seshasayee, Chairman of the Board.

Ravi Venkatesan has been on the board of Infosys since April 2011 and has made valuable contribution to the development of strategic direction of the company during his tenure.

“This is an exciting time for the technology industry and I am delighted to have the opportunity to work more closely with Sesh (Seshasayee) and with Vishal (Sikka) and his leadership team in their transformational journey”, said Ravi Venkatesan, Co-Chairman.

As far as Infosys results for FY 2017 are concernend, the IT major garnered revenues of Rs 68,484 crore registering a growth of 9.7% over the previous fiscal.

The net profit of the company for the fiscal was Rs 14,353 crore showing a growth of 6.4% over the previous year.

On quarterly terms Infosys’ revenues for Q4, 2017 was Rs 17,120 crore showing a Q-o-Q decline of 0.9% but a Y-o-Y increase of 3.4%. For the same period the net profit of the Indian IT major was Rs 3,603 crore which was down by 28% on a quarterly basis.

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