"Independent Director Ravi Venkatesan is stepping down from the Board to accept a new role," said the city-based Infosys in a regulatory filing on the BSE.
Venkatesan's resignation is with immediate effect to pursue a new opportunity.
"Venkatesan, 54, has been an Independent Director since 2011 and served briefly as Co-Chairman before transitioning its responsibility when co-founder Nandan Nilekani became Chairman in August 2017," said the filing.
Thanking Venkatesan for pivotal contributions to the IT major's transitions and towards a digital-first future, Nilekani said the Board would miss his passion, strategic insights and personal warmth.
"Venkatesan has been a champion for driving social impact and its desire to do more has led to his request for stepping off the Board. I am delighted he will be pursuing an opportunity in this area. I wish him all success with his new endeavour," said Nilekani in a statement later.
Recalling his illustrious stint at the global software major, the former Microsoft executive said he joined the Infosys' Board at a time when it began transitioning from founder-led to professional management.
"I am pleased that this mission has been accomplished. Infosys is strong, in good hands, and is gaining momentum. My seven years on the Board have been exciting, rewarding and eventful," recalled Venkatesan in the statement.
Noting that he was fortunate to have been part of the $10.9 billion behemoth at a seminal moment in its history, Venkatesan said it was a pleasure to have worked with so many colleagues on the Board and in the management.
Independent Director on the Board Kiran Mazumdar Shaw said Venkatesan was a valuable member at an important time for the company.
"We will miss him greatly," said Shaw, who is also Chairperson of the city-based biotechnology major Biocon Ltd.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
