Nandan Nilekani: Infosys well-positioned for another year of market-leading performance

Nilekani said in his chairman speech to shareholders in Infosys 40th Annual General Meeting (2021).

Jun 21, 2021 01:06 IST India Infoline News Service

Nandan Nilekani, the non-executive chairman of Infosys said that the company is well-positioned for a market-leading performance for another year. Nilekani said in his chairman speech to shareholders in Infosys 40th Annual General Meeting (2021).

Nilekani said, "While a challenging 2020 has ushered in 2021 fraught with uncertainty, one thing is clearly evident: Infosys is well-positioned for another year of market-leading performance in a post-pandemic, cloud-first, distinctly digital era."

He said that the dramatic shift to living and working online has altered the entire business landscape in irrevocable ways. Hybrid work is here to stay, requiring organizations and their people to find new ways to come together, collaborate and deliver seamlessly. Unprecedented technology transformation is driven by the cloud, and the digitalization of business models are shaping the next normal for us all.

"Whether it’s the uptick in online demand, mastery over digital demand fulfilment or tackling the threat of cyberattacks, technology has become an urgent and critical business capability. Adjusting to this new reality can be daunting. Companies can no longer afford the long wait for business returns or settle for the sometimes-underwhelming outcomes of large transformation projects," Nilekani said.

He further said, "Our clients need help, from a trusted thought leader and digital solutions expert who they can count on to navigate them to their future. Infosys is committed to being that partner for them."

Further, Nilekani also said that the Board of Infosys recommends the reappointment of U.B. Pravin Rao, COO and Whole-time Director, whose office is liable to retire by rotation. U.B. Pravin Rao will be superannuating on December 12, 2021, after a stellar tenure running Infosys operations, especially when our systems were severely tested in the past year.

The Board also recommends the reappointment of Michael Gibbs as an independent director for a second term of five years, as he is due for retirement as director after his first term of three years on July 12, 2021.

On Monday, Infosys is trading at Rs1500.20 per piece lower by 0.3% on Sensex at around 1.18 pm.

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