Infosys chairman to employees: Think big and act boldly
Infosys chairman and chief mentor NR Narayana Murthy termed his company's performance as "creditable".
BANGALORE: Infosys chairman and chief mentor NR Narayana Murthy termed his company's performance as "creditable" and assured investors that the company remained on track to regain its lost momentum in two years.
In his first address to shareholders since his return last year in June, Murthy asked over 160,000 employees at Infosys to "think big and act boldly" and hinted that bold steps are in the offing he believes "nothing is as painful as staying stuck where you do not belong".
"We have done creditably this year by doubling our revenue growth to 11.5% (in US dollar terms)," Murthy wrote in a letter in the annual report. "Further, our operating margin improved from 23.5% in Q1 'FY 2014 to 25.5% in Q4 FY 2014. This is laudable by any standard. I congratulate every Infoscion on this stellar performance."
In April this year, Infosys kicked off the earnings season with quarterly results that matched its toned-down expectations and forecast modest growth for the 2014-15 fiscal, an outcome analysts said is reflective of the challenges that the company is facing. At 7-9%, its revenue growth guidance is some way below the 13-15% prediction by industry grouping Nasscom for software export growth.
"Growth is painful. Change is painful. But, nothing is as painful as staying stuck where you do not belong," Murthy wrote.
In what could surprise many, Murthy in his letter also thanked Mohandas Pai, the former CFO at the company, for helping the founder come back and steer the company.
The Bangalore-based software exporter is currently looking for its fifth chief executive officer—who will also be its first non-founder CEO—after SD Shibulal expressed his desire to step down from the company earlier than his planned retirement in March 2015.
In his first address to shareholders since his return last year in June, Murthy asked over 160,000 employees at Infosys to "think big and act boldly" and hinted that bold steps are in the offing he believes "nothing is as painful as staying stuck where you do not belong".
"We have done creditably this year by doubling our revenue growth to 11.5% (in US dollar terms)," Murthy wrote in a letter in the annual report. "Further, our operating margin improved from 23.5% in Q1 'FY 2014 to 25.5% in Q4 FY 2014. This is laudable by any standard. I congratulate every Infoscion on this stellar performance."
In April this year, Infosys kicked off the earnings season with quarterly results that matched its toned-down expectations and forecast modest growth for the 2014-15 fiscal, an outcome analysts said is reflective of the challenges that the company is facing. At 7-9%, its revenue growth guidance is some way below the 13-15% prediction by industry grouping Nasscom for software export growth.
"Growth is painful. Change is painful. But, nothing is as painful as staying stuck where you do not belong," Murthy wrote.
In what could surprise many, Murthy in his letter also thanked Mohandas Pai, the former CFO at the company, for helping the founder come back and steer the company.
The Bangalore-based software exporter is currently looking for its fifth chief executive officer—who will also be its first non-founder CEO—after SD Shibulal expressed his desire to step down from the company earlier than his planned retirement in March 2015.
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