Infosys co-chair Nilekani quits to join India govt

Posted on Posted in Technology news

Source: NEW DELHI, June 25 (Reuters) – Nandan Nilekani, co-chairman of Infosys Technologies Ltd (INFY.BO), India’s No. 2 outsourcer, has resigned from the company’s board to join the government, the company said on Thursday.

Nilekani, one of the founders of Infosys, has been invited by Prime Minister Manmohan Singh to head government agency Unique Identification Authority of India in the rank of a cabinet minister, Infosys said in a statement.

Nilekani, a former chief executive of the company, was not involved in active management since becoming co-chairman in 2007.

Shares in Infosys, which has a market value of about $21 billion, were up 0.7 percent at 1,771.25 rupees at 0849 GMT in a Mumbai market down 0.5 percent. (Reporting by Devidutta Tripathy; Editing by Ranjit Gangadharan)
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