N R Narayana Murthy, co-founder of India based Infosys, is all set to begin search for the company’s new CEO.
Discussions on the names of potential candidates for the post are expected to start soon and in case the company decides to consider some external candidates, the CEO search would begin sometime around August. The present CEO S D Shibulal would be retiring in March 2015.
It will take around three to four months for the company to identify a candidate for the executive post and then the selected candidate may need to give a three-month notice period to his/her existing company. So basically the search process will continue for a period of seven to eight months at least.
“Global executive search firms like Korn/Ferry, Egon Zehnder, Heidrick & Struggles and Russell Reynolds will be approached to benchmark internal CEO candidates with external ones,” reported a source close to the matter.
An executive from a global search firm also reported that it is possible that the board instead of going for an external candidate for the CEO post might decide it’s best to go with an internal candidate, and if so happens, the board will not opt for an external search.
Last month, two of the company’s senior most executives, B G Srinivas and U B Pravin Rao were elevated to a new layer called president. Murthy while addressing the company’s result conference last month said: “…All of us would like one of these two people to become the next leader after Shibulal”.
“But it’s for the nomination committee to decide whether it should be an internal or external candidate”.
[Source: The Economic Times]
