Infy to be renamed as Infosys Ltd;to transform into next level

Bangalore, Apr 30 (PTI) In tandem with leadership
succession plan and move to transform the company into a next-
generation global player in IT arena, Infosys Technologies
today said it will be renamed as Infosys Ltd.
Co-Chairman-designate S Gopalakrishnan said that Infosys
has a broad range of services all the way from consulting to
business process outsourcing and the company's focus is to
help clients achieve business results.
"We felt that the brand Infosys is so strong that we
would like to rename the company as Infosys Ltd,"
Gopalakrishnan said.
"It's part of our 3.0 vision...", he said.
The company in a regulatory filing to the Bombay Stock
Exchange said that the "Board of Directors approved the
proposal of changing the name of the company from Infosys
Technologies to Infosys Ltd".
The company will seek shareholders' approval on the
proposal at its Annual General Meeting on June 11, 2011.
Noting that Infosys is already a respected global brand,
the CEO-designate S D Shibulal said, "our aspiration is to
build the next generation global consulting and services
corporation".
The proposed Infosys 3.0 strategy would have three
dimensions including strengthening the company's strategic
partnership with its clients and evolving its business model,
Shibulal said.
"..we are also making other organisational changes to
strengthen our market position and ability to serve our
clients better," he said.
Officials said the Board had also decided to raise the
retirement age for chairman of the company from 65 years to 70
years but this would not be applicable to the company's
founders.
Shifting from its usual practice of naming founders as
Chairman, the company today announced the appointment of
former CEO of ICICI Bank K V Kamath as its new Chairman.
The board has also named current Chief Executive Officer S
Gopalakrishnan as co-chairman, while COO S D Shibulal has been
elevated as the CEO.