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TIMELINE: Some key events for Infosys since inception
June 1, 2013 / 10:28 AM / 5 years ago

TIMELINE: Some key events for Infosys since inception

Here are some major events in the history of Infosys, which on Saturday recalled founder and former chairman N.R. Narayana Murthy to act as executive chairman for five years.

N.R. Narayana Murthy speaks during a news conference in Bangalore April 13, 2007. REUTERS/Jagadeesh/Files

1981 - Infosys is set up by N.R. Narayana Murthy and six other engineers in Pune with initial capital of $250 mostly borrowed from their spouses.

1983 - Relocates corporate headquarters to Bangalore, one of the first software companies to set up operations in the city that becomes India’s Silicon Valley.

1993 - Lists on Indian exchanges and is among first in India to introduce employee stock-option plan, a move to attract and retain talent.

1999 - Becomes first Indian company to list on Nasdaq, raising the profile of the Indian outsourcing industry in the United States.

2002 - Narayana Murthy hands over chief executive role to co-founder Nandan Nilekani. Murthy becomes chairman. Revenue reaches $500 million. Company launches back-office outsourcing services unit, Progeon.

2006 - Murthy steps down as chairman after 25 years at the helm of the firm after reaching the company’s retirement age of 60, continues as non-executive chairman and mentor.

2007 - Infosys co-founder and chief operating officer Kris Gopalakrishnan takes over as chief executive from Nilekani, who takes up the role of co-chairman.

2009 - Co-chairman Nandan Nilekani resigns to join Indian government to launch nationwide biometric identity card programme.

2011 - Co-founder and chief operating officer S.D. Shibulal named chief executive and his predecessor becomes executive co-chairman. Murthy retires as non-executive chairman and veteran banker K.V. Kamath, an independent director of Infosys, takes over as non-executive chairman. Board member and human resources chief T.V. Mohandas Pai quits.

2013 - Infosys recalls Murthy to act as executive chairman for five years. Kamath, the current non-executive chairman, to take the role of lead independent director effective June 1. Executive co-chairman S. Gopalakrishnan to be re-designated executive vice chairman, while current chief executive officer S.D. Shibulal to remain in his position.

Source: Infosys website, Reuters

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