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Infosys inducts K V Kamath to its Board of Directors

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Information technology services major Infosys Technologies Limited has announced that its Board of Directors has appointed Mr. K. V. Kamath, non-executive Chairman of ICICI Bank, as an additional director to the Infosys Board.

The Nominations Committee of the Board had earlier recommended Mr. Kamath’s induction, the company said in a press release yesterday.

Mr. Kamath will serve as an additional director till the annual general meeting (AGM) of the company, to be held on June 20, when his appointment as a non-executive director will be recommended for the approval of the members. With his induction, the Infosys Board will have 16 directors.

Welcoming Mr. Kamath to Infosys’ Board of Directors, Mr. N. R. Narayana Murthy, Chairman and Chief Mentor, said, "Mr. K. V. Kamath is an outstanding corporate leader. His success in creating a grand vision for ICICI Bank and implementing that vision is a rare example of excellent leadership that is at par with the best in the corporate world internationally. His contribution to the Infosys Board will be significant. I welcome him and look forward to working with him to make this company even more successful."

Mr. Kundapur Vaman Kamath has a degree in mechanical engineering as well as one in management studies from the Indian Institute of Management, Ahmedabad. He started his career in 1971 at ICICI, an Indian financial institution that founded ICICI Bank and merged with it in 2002.

In 1988, he moved to the Asian Development Bank and spent several years in South-east Asia before returning to ICICI as its Managing Director and CEO in 1996. Under his leadership, the ICICI Group transformed itself into a diversified, technology-driven financial services group that has leadership positions across banking, insurance and asset management in India, and an international presence.

He retired as Managing Director and CEO last and took up his present position as non-executive Chairman of the Board of Directors of ICICI Bank.

Mr. Kamath was awarded the Padma Bhushan, one of India’s highest civilian honours, in 2008. He was given the Lifetime Achievement Award at the NDTV Profit Business Leadership Awards 2008; was named ‘Businessman of the Year’ by Forbes Asia and The Economic Times ‘Business Leader of the Year' in 2007; Business Standard’s ‘Banker of the Year' and CNBC-TV18's ‘Outstanding Business Leader of the Year’ in 2006; Business India's 'Businessman of the Year’ in 2005; and CNBC's 'Asian Business Leader of the Year' in 2001. He has been given an honorary Ph.D. by the Banaras Hindu University.

Mr. Kamath was the president of the Confederation of Indian Industry for the year 2008-09.

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