Mr Narayana Murthy's successor will be announced on Saturday the April 30, 2011, ending an era of entrepreneurial excellence. As Murthy gets ready to handover the company he built from ground up three decades ago to its next chairman, CNBC-TV18’s Sunanda Jayaseelan takes a walk down memory lane.
Narayana Murthy has every reason to smile! The company he co-founded in 1981 with six other middle class mavericks has come a long way. Started in a 10x 10 room with Rs 10,000, this IT behemoth is credited with creating 1000's of millionaires courtesy its stock option schemes, being a pioneer of the Indian offshore model and building an institution where governance has always been given a premium.
Surprisingly, the trappings of power and wealth haven’t changed Murthy. KV Kamath who is being seen as a front-runner to take over the post of chairman, says Murthy's humility touched him deeply.
KV Kamath, Non Executive Chairman, ICICI Bank says, “There was a security guard at the door who opened the door for Murthy. And what Murthy asked him is still in my mind today. He asked in Kannada "utay tho" that is have you had dinner?”
Not just his humility, Murthy's pursuit of good governance standards has been appreciated and imbibed by many in corporate India.
KM Birla, Chairman, Aditya Birla Group saisd, “The kind of governance that he stood for, the fact that he's speared the team, he has also stepped down and let the team take over and take the company forward which in itself a very big thing to do.”
Those leadership skills are something which his professor, who knew him as a student, says he saw in a young Murthy many years ago.
J Krishna Iyer, Narayana Murthy's Professor says, “I think it's the team building capability and the understanding that he showed right at the beginning of Infosys about having to identify values that they were going to maintain.”
Murthy is stepping down at a time when the company is seeing a lot of flux. It has underperformed over the past few quarters, with peers like TCS moving forward. High profile exits, the most recent being Mohan Das Pai have also raised concerns of Infy being top heavy.
Amitabh Chaudhary, Former CEO, Infosys BPO says, “No, I don't think it is very crowded at the top. Everyone at Infosys has understandably and arguably been there for a couple of years, but some of that could change.”
So, will Infosys be a different as Narayana Murthy steps away? Industry leader NASSCOM says that transition is a part of any industry and that Infosys is large enough to handle any kind of change.
Som Mittal, President, NASSCOM says, “Mr Murthy has been at the helm at Infy for 30 years and has been helping to lead the industry and create a great brand. I am sure he has acquired enough experience and will be always there for the help of the industry. He anyways is on our chairman council. I am sure the industry will continue to benefit from him.”
But his best tribute yet is from fellow founder Nandan Nilekani.
Nandan Nilekan, Former Co-founder, Infosys says, “When the history of Corporate India is written, Murthy’s name will be right up there.”
Indicative perhaps of how hard it will be for him to step away from Infosys, Mr Murthy could continue as chairman emeritus at the company for another couple of years.
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