Infosys 3.0: Murthy makes way for Sikka

THE ECONOMIC TIMES Thu, Jun 12, 2014 | 06:35 PM IST Special Newsletter

Change of guard at Infosys shows that Murthy means business Many analysts are calling this a bold decision and a transformation that could take longer given Sikka's background. Vishal Sikka appointed as Infosys CEO & MD; Murthy steps down The company also announced that Executive Chairman NR Narayana Murthy and Executive Vice Chairman S Gopalakrishnan would step down on June 14. Vishal Sikka's product breakthroughs can help Infosys reboot Those who know him personally say there’s more to Sikka, who resigned from SAP on May 4, than the technology geek he comes across as.

Featured Tough task ahead for Vishal Sikka to revive Infosys back to its glory The big worry for investors is whether it’s too late for Sikka to be at the helm and whether the current issues facing the company can be surmountable. read more

More Stories Vishal Sikka appointed Infosys' CEO & MD: 5 things to know about him With his appointment, Sikka becomes the first non-founder CEO of Infosys. Sikka will take over from S D Shibulal on August 1, 2014. Vishal Sikka to bring new clients, boost 3.0 strategy at Infosys: Experts Infosys had already begun to invest in what it called the 3.0 strategy and Sikka’s appointment is expected to boost that business. Sikka's appointment cheers Infy employees, Murthy's exit a surprise "As of now people are more surprised by NRN's untimely exit after 1 yr when his & his son's term was 5 years," said an employee who has been working with the company for over 5 years. What Murthy had to say as he steps down as Executive Chairman of Infy We are happy that the man who represents big money and with a big intellectual competence is coming to us, said N R Narayana Murthy. Infosys is a great company: Vishal Sikka "Infosys has put India on the map of the digital world. I am honoured to lead Infosys, which is an iconic company built by pioneers," Sikka said. Tweets from Infy executives, employees & biz leaders on Sikka Vishal Sikka’s appointment as the chief executive and managing director of Infosys forced people like Nandan Nilekani to post his views on twitter. Infosys maybe an ideal takeover target in two years Even if it opens higher today, I do not think it is the right time to step in. With the new appointment, it will have its own series of repercussions in the first year itself, he says. What Vishal Sikka had to say as he takes over Infosys' new CEO & MD "Infosys has put India on the map of the digital world. I am honoured to lead Infosys, which is an iconic company built by pioneers," Infosys@4K in a year? Don't expect a re-rating soon; stock rallies 4% Analysts, however, say that investors should stay away at current levels as the stock has seen a sharp run-up in past few sessions. KV Kamath welcomes Infosys' CEO designate Vishal Sikka Sikka, who will also be the company's MD, quit SAP in May. He comes in at a time when Infosys has had four straight years of narrowing margins.

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News Digest: Notorious poacher Bheema Bavaria arrested

		THE TIMES OF INDIA
		Thursday, June 12, 2014
		Today's Headlines

		India
		Notorious poacher Bheema Bavaria arrested The Uttarakhand forest department achieved another major success by nabbing the dreaded international poacher Bheema Bavaria. This comes close on the heels of the arrest of Narain Chand, the younger brother of another notorious deceased kingpin, Sansar Chand. Search continues for missing Russian tourist Five police teams, comprising 80 personnel, were deployed on Wednesday to search for the Russian national who was washed away in the Bhagirathi river after a bus fell into it near Harshil in Uttarkashi district on Tuesday afternoon. After Gairsain session, Uttarakhand assembly adjourned indefinitely A three-day special assembly session, which commenced on Monday, was adjourned indefinitely after leader of opposition Ajay Bhatt made a fresh plea to speaker Govind Singh Kunjwal to allow the house to start a debate on the controversial excise policy that will encourage more foreign liquor license holders from outside the state to take control of the business. More India News»

		Business
		Export growth hits 7-month high India's exports rose over 12% to $28 billion in May, the fastest pace of growth in seven months, on the back of improving demand in the developed markets and partly due to depreciation of the rupee against the dollar. Japanese drug company buys Medreich Japan’s Meiji Seika has agreed to buy Bangalore-based generic drug maker Medreich for $290 million. The over nine-decade-old company has acquired a 75% stake held by Medreich’s three promoters and the rest 25% from private equity investor Temasek. Govt may rejig subsidy for solar projects The subsidy regime for solar projects may be in for an overhaul, with power minister Piyush Goyal asking officials to address the problem of accumulated bills of about Rs 3,200 crore and find ways to ensure that claims don’t pile up in future. More Business News»

		Environment
		Rajasthan has largest area under mining leases in country According to the ministry, in the last financial year, out of the total 5,30,232.93 ha under mining in the country, 1,16,009.93 ha was in Rajasthan alone, which is the largest area under mining leases granted by any state. Two abandoned tiger cubs killed in Madhya Pradesh In a major setback for Madhya Pradesh two tiger cubs got killed after being abandoned by their mother in Panna Tiger Reserve (PTR) Water pollution killing Goa's marine population The next time you want to dig into a spiced, crunchy fried mussel or fancy some coconut-laced clam gravy while lounging in a Goa beach shack, you might have to look harder for it. More Environment News»

		World
		Congo and Rwanda clash at border Rwanda, last year, had accused the Congolese army of firing rockets and mortar shells on its territory and massed troops along its border in response. Car bomb in northern Mali kills peacekeepers: UN Northern Mali fell under control of ethnic Tuareg separatists and then al-Qaida-linked Islamic extremists following a military coup in 2012. US supports Ukraine-Russia peace talks: Joe Biden Biden told Poroshenko that the US applauds the peace plan he presented on Saturday during his inauguration. More World News»

		Entertainment
		Rakhi stands for eunuchs' rights Bollywood bombshell Rakhi Swant is finally ready with her maiden Marathi production ‘Jayjaykar’. The film which has Dilip Prabhavalkar in a lead role deals with the rights and life of eunuchs OMG: Akshay Kumar is hooked onto a nursery rhyme A couple of Akshay Kumar’s friends were taken aback when they recently met the actor and heard him recite the nursery rhyme, Johnny Johnny. Aftab Shivdasani ties the knot in private ceremony Aftab Shivdasani has been dating Nin Dusanj, a British-Indian girl, who was working in Hong Kong for six years as a consultant in the luxury brand industry before relocating to India in 2012. She met Aftab through common friends at an event. More Entertainment News»

		Science
		An injection to permanently reduce cholesterol in humans soon A single injection may soon permanently lower cholesterol levels in humans reducing their risk of heart attack by 90%. Now, a wristwatch to monitor glucose, pulse rate & hydration levels A new biometric wristwatch is being developed that can monitor your blood glucose, dehydration and pulse rate. Nasa to conduct Mars 'flying saucer' test on Earth The US space agency,Nasa, is getting ready to launch a "flying saucer'' into Earth's atmosphere to test technology that could be used to land on Mars. More Science News»

		Sports
		Spain to win FIFA World Cup: Study Holders Spain look set to win the World Cup thanks to the interlocking qualities of their squad, which will allow them to outgun Brazil, statisticians said Wednesday. Hewitt falls short of Federer's record Hewitt remains one victory short of Federer's record of 122 match wins on grass after being beaten 6-3, 6-4 by Lopez in the Queen's Club grass-court tournament. Rooney allays Welbeck injury fears England striker Wayne Rooney said that he expects Manchester United team-mate Danny Welbeck to be fit to face Italy on Saturday despite an injury scare. More Sports News»

		Technology
		Google buying satellite maker Skybox for $500 million Google is buying Skybox Imaging in a deal that could serve as a launching pad for the Internet company to send its own fleet of satellites to take aerial pictures and provide online access to remote areas of the world. Mozilla to launch $25 Firefox phones in India Mozilla foundation has announced a tie-up with Indian handset brands Intex and Spice, to bring the first Firefox OS devices to India. Apple creating ad agency, to hire 1,000: Report The iPhone maker is trying to hire top talent from the advertising world and focussing more on digital ads, according a report by AdAge. More Technology News»

		Education
		Ex-chairpersons oppose changes to National Council for Teacher Education regulations Three former chairpersons and two vice-chairpersons of the National Council for Teacher Education have written to HRD minister Smriti Irani requesting her to immediately intervene and stop the proposed changes in NCTE regulations. 5 new engineering colleges to set up shop in TN, one near Kovai Five engineering institutions in the state and two in Puducherry have got approval, and they will most probably start functioning from the coming academic year, even as three existing ones will close down. BTech students strike rare pro-FYUP note, praise VC Delhi University authorities have finally got themselves a band of cheerleaders. More Education News»

		Mumbai
		Maharashtra plans offices on Wadala salt pan The Maharashtra government has initiated the process of deleting a 71-acre Wadala salt pan plot from the list of No Development Zones to build government offices and staff quarters. Greens see red over govt's Wadala 'plot' Although the official line of the state government is that salt pans will be utilized only to rehouse slumdwellers displaced by infrastructure projects in Mumbai, it is widely believed that the rules will be relaxed after some time to allow commercial exploitation. 68% teens shop online, 91% in smaller metros own mobiles Almost seven out of 10 urban teenagers shop online and teenagers in mini-metros are ahead of their metro counterparts in adopting digital lifestyles, found a survey More Mumbai News»

		Delhi
		Two brothers killed in high-speed car crash near Britannia Chowk Two brothers were killed when their speeding Audi A6 spun out of control and landed on its left side near Britannia Chowk in northwest Delhi early on Wednesday. Two others, including a cousin driving the car, were injured in the accident. Bangkok designer's robbery trip to Dariba ends at IGI Sitting thousands of kilometres away in Bangkok, a man plotted a sensational robbery at the wellknown bullion market here, came down to India and executed it successfully with the help of two friends on Tuesday night. Longest heatwave in 19 years, outages dog Delhi The last six days of sweltering heat that left Delhiities high and dry has been the longest heatwave in the capital since 1995, according to an analysis by IGI Met director R K Jenamani. More Delhi News»

		Bangalore
		Maulvi arrested for sexually abusing minor girl Muneer was arrested from his home in Ramanagaram after the 14-year-old complained that he sexually abused her on the pretext of treating her for being "possessed by a spirit". Man found in girl's company, thrashed Thirteen men barged into the girl's house in Banglegudde, Karkala, and assaulted Sudhir Rane, 29, of Bailoor who was with her. Bizarre lawlessness: Cops thrash trucker, force him to call inspector 'Singham' A truck owner was allegedly picked up by Kalasipalyam police near Minerva theatre recently, mercilessly beaten up and forced to call the inspector 'Singham', a complaint lodged with the police commissioner said. More Bangalore News»

		Hyderabad
		Andhra Pradesh CM Chandrababu Naidu's playing 19 Andhra Pradesh chief minister, N Chandrababu Naidu, on Wednesday officially announced the portfolios of his cabinet ministers, while retaining some important departments such as infrastructure, investment, industries, energy, tourism, cinematography, general administration, law and justice and public enterprises with him. Sri Kanaka Durga temple: The rich & powerful Sri Kanaka Durga temple atop the Indrakeeladri hill in Vijayawada is all set to emerge as the most powerful' temple in the new state. Poor top priority: Governor Faced with the challenge of meeting the great expectations of its people, the Telangana government has vowed to give top priority to the welfare of martyrs' families and those belonging to lower sections of society. More Hyderabad News»

		Chennai
		Online road tender plan crashes,s ystem reboots to dodgy mode The e-tender system that the corporation devised to do away with malpractices in awarding of road contracts has come a cropper. For city fathers, Chennai's roads are paved with gold Fixing Chennai's roads is a particularly lucrative side of the business of being a city father. Expo gives crash course on Indian quilts A quilt is an evocative study in Chaos Theory, and the Crafts Council of India is currently offering a crash course in the subject. More Chennai News»

		Ahmedabad
		Revisiting Gandhiji's life in Walled City Bapu had just returned to India after his successful South African satyagraha against the apartheid and needed help for his cause. After high court rap, govt set to switch off illegal beacons For several decades, the flashers - those flaunting beacons and sirens atop their vehicles - enjoyed the exclusive right to skip toll taxes, park in no parking zones, and even skip traffic junctions during peak hours. Saraspur health centre turns into dumping yard The sight of this urban health centre will make you sick.This newly renovated health centre run by the Ahmedabad Municipal Corporation (AMC) near Saraspur circle has a garbage bin right outside its compound. More Ahmedabad News»

		Allahabad
		Allahabad blazes at 45.7 degrees celsius, one dies of heat stroke Allahabad continues to reel under intense hot weather conditions as a death was reported due to the heat waves on Valmiki Road here on Tuesday. Minor girl gang-raped, FIR lodged on ASP's order A minor was abducted and gang-raped in Bahraich on Sunday evening. After being denied justice by Nawabganj cops, the survivor met senior officials and narrated her woes. Art appreciation course from today A month long art appreciation course would start at the Allahabad Museum from today till July 10 in, which noted personalities and experts of museology would deliver talk and hold interactive talk sessions. More Allahabad News»

		Bhubaneswar
		Government bans devotees on chariots, but Puri priests want it partially In spite of opposition from priests, the state government on Wednesday banned entry of public on to the chariots during the car festival in Puri. Budget session begins today With a brute majority of 117 members in the assembly, the ruling BJD is set to begin its budget session starting Thursday with renewed confidence. Cops set deadline for hotels to implement safety measures Police have given two-months time to city hoteliers to comply with security measures suggested by it in November last year. More Bhubaneswar News»

		Bhopal
		Three-day training of MP BJP on 'Modi'fied rules in assembly "achha adyayan, acharan and sahaj sampark." Modi had directed BJP. Woman suicide case: Suspended cop declared absconder A local court has declared a suspended police inspector, charged with abetting suicide of a woman professor, as an absconder. MPPMT scam: Special task force widens probe Madhya Pradesh special task force (STF) will also investigate irregularities in pre-medical test (PMT) conducted between 2008 and 2011. More Bhopal News»

		Chandigarh
		Read early signs of suicide Suicides are preventable if early warning signs are identified by friends or relatives.This is what city-based shrinks feel.Depression is the underlying cause behind most suicides. Sector 17 fire: To fix responsibility, UT police fires 6 questions at estate office The police have asked estate officials whether the AC plant in the basement of the Sector 17 building was allowed or not.If it was allowed, the estate officials have been told to provide supporting documents. Mad about soccer With the beginning of FIFA World Cup, soccer would be driving the world crazy for the next one month. More Chandigarh News»

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