Tech-giant Infosys, on Thursday, disclosed that Kiran Mazumdar-Shaw, an independent director on the company’s board, will retire on March 22, 2023, upon completion of her term.
Accordingly, the board has selected D Sundaram to take over as the lead independent director of the company. The decision was taken based on the recommendation of the ‘Nomination and Remuneration Committee’.
D Sundaram has been a member of the Infosys Board since 2017 and is currently serving on several committees, including the Audit Committee, Risk Management Committee, Stakeholders Relationship Committee, Nomination and Remuneration Committee and Cybersecurity Risk Sub-Committee.
“We profusely thank Kiran Mazumdar-Shaw for having been such an integral member of the Infosys family, providing valuable guidance and leadership to the Board over the years. I am personally very grateful to her as she has been a tremendous ally and amazing colleague on the Board, ever since I re-joined Infosys in August 2017,” Infosys Chairman, Nandan Nilekani, said.
“We also congratulate D Sundaram on being appointed as Lead Independent Director and look forward to his continued insight and steadfast support as Infosys continues its growth and transformation journey,” Nilekani added.
Shaw has been associated with Infosys since 2014, when she was appointed as an independent director. She later served as the Lead Independent Director from 2018. During her tenure, she also held other important positions such as the Chairperson of the ‘Nomination & Remuneration Committee’ and ‘CSR Committee’, and served as a member of the ‘Risk Management and ESG Committees’ of the Board.
Infosys expressed its appreciation for her contributions, stating that her strategic vision and guidance had helped the company in building and executing a robust growth strategy. Kiran Mazumdar-Shaw is currently the Chairperson and Managing Director of Biocon Limited, a Bangalore-based biotechnology firm.