Infosys is under pressure this morning after B G Srinivas, President and Board member tendered his resignation from the company. The stock is quoting at Rs 2978, weaker by Rs 193 or 6.1%, on the BSE.

In what came as a surprising development to many, information technology (IT) services major Infosys on Wednesday said its president and board member B G Srinivas had quit the company.

NEW DELHI: International Business Machine (IBM) Corp sees huge potential for its Watson supercomputer in the Indian market in the role of an advisor or helping businesses increase competencies, even as the company tests the scalability of the technology by using it internally. "Clearly there is desire. Now it's up to us to get from that desire and interest to meaningful use cases that have business justification," said Michelle Unger, worldwide head of sales for Watson Engagements at IBM, talking about the potential Indian market for Watson.

Bangalore: Early on Sunday, the 160,000-odd employees of Infosys Ltd received an email sent by co-founder and chairman N.R. Narayana Murthy.

“We have achieved much in the past year…reaching where we want to be won’t be easy,” Murthy said in the email, urging all employees to “think big and act boldly”. The message was similar in tone to the one addressed to shareholders earlier in May in the company’s annual report.

It is a million-dollar question on who will be the next chief executive officer (CEO) of Infosys, as the country’s second-largest IT services exporter with a revenue of $8.2 billion intensely debates whether to pick somebody from within its ranks or bring in a rank outsider.

In its 33-year-old history, Infosys’s search for its next CEO is now breaking many new grounds. For the first time, it will be appointing a chief executive who does not belong to the founders’ group.

While few Infosys employees may see Nandan Nilekani as a potential future CEO who can help the company tide over the tough times, the technocrat-turned-politician is learnt to have 'absolutely' no such plans.

Nilekani who lost out to BJP heavyweight Ananth Kumar in the recently-concluded Lok Sabha elections contesting in a Congress ticket, has decided to stay focused on building his political career, sources close to him said.

Faced with a high level of attrition, India’s second-largest IT services exporter Infosys, is going all out to strengthen its human resources (HR) initiatives to reverse the trend of people leaving the organisation and build a culture of high performance.

Infosys, which had a total employee strength of 160,405 at the end of FY14 reported an attrition of 18.7%, which was a rise of 2.4% when compared to the previous fiscal.

The momentum is building up for the $86-billion Indian IT services export industry with healthy demand for outsourcing and offshoring from its key markets like US and western Europe. This buoyancy has created a kind of disruption among the top-tier Indian IT services companies and much will depend on each firm’s strategy to grab the market opportunity.

Bangalore: Infosys Ltd president B.G. Srinivas and Stephen Pratt, former head of utilities and resources for North America who resigned from the company last November, have emerged as the highest-paid executives at India’s second-largest software services exporter in fiscal 2013-14, according to a regulatory filing by the company on Monday.

Despite having paid a hefty sum of $34 million to settle a US visa misuse case last year, Infosys, India’s second largest information technology (IT) services company, will have to retain an independent third-party auditor at its expense to review its visa compliance until 2015.

As part of the settlement with the US authorities, the independent auditor will be responsible for annually reviewing and reporting on Bangalore-based company’s compliance relating to Form I-9, a type of employee documentation.

Infosys expects its hived off products, platforms and solutions (PPS) business to record a "significantly higher" growth in the coming twelve months than the 7-9% outlook outlined by the company even as the company made it into a wholly-owned subsidiary.

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