In a major top management re-shuffle, Infosys on 1 June 2013 appointed N R Narayana Murthy as executive chairman of the Board. He would serve as board chairman for 5 years. K V Kamath stepped down from his position as Chairman of the Board and took up the position of Lead Independent Director. In fact, Narayan Murthy was appointed as the chairman for the second time. Prior to this, he was the chairman from 2002 to 2011.
The Board has taken this step keeping in mind the challenges that the technology industry and the company faces in the present day.
Infosys increased the age limit for holding Chairman's post to 75 years to facilitate the re-appointment of N R Narayana Murthy at the top position. Earlier the retirement age for Executive Chairman- which also included board members- was 60 years.
Infosys is India's second largest software services.