Software major Infosys will see a top-level change as its Chief Operating Officer and company veteran UB Pravin Rao will be retiring. Infosys CEO Salil Parekh said at the earnings press conference, “This will be the last full quarter before Pravin retires. We will announce a new future structure in future weeks.”
Pravin Rao is the Chief Operating Officer of Infosys and a whole-time Director of the Board. He was inducted on January 10, 2014, as a member of the Board.
Rao oversees the key functions of global delivery and business enablement. He has over 35 years of industry experience. Since joining Infosys in 1986, he has held a number of senior leadership roles including Interim Chief Executive Officer and Managing Director, Head of Infrastructure Management Services, Delivery Head for Europe, and Head of Retail, Consumer Packaged Goods, Logistics and Life Sciences.
He played a crucial role in ensuring stability when the company went through a CEO change when Vishal Sikka left and Salil Parekh was appointed.
The software major today reported September quarter earnings post market hours. Its consolidated profit came in at Rs 5,421 crore, up 11.9 percent year-on-year (YoY) and 4.4 percent (QoQ), on the back of strong revenue contribution from Daimler deal, higher adoption of digital transformation by clients, broad-based growth across verticals, and strong seasonality.
The earnings were ahead of consensus estimates. It also raised its revenue growth guidance to 16.5-17.5% from 14-16% earlier. But its attrition for the quarter zoomed to 20.1% compared to 13.9% in the previous quarter.
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Source: News18