Leading Software giant Infosys witnesses a top-level change as its Chief Operating Officer (COO) and company veteran UB Pravin Rao will be retiring soon. The firm said it has “a very strong” set of leaders within the company and asserted that it does not foresee any challenges or obstacles in the upcoming top-level transition and succession of the COO role.
Infosys CEO Salil Parekh said at the earnings press conference that this would be the last full quarter before Pravin retires, and they will announce a new future structure in coming weeks. Pravin Rao is the Chief Operating Officer (COO) of Infosys and a whole-time Director of the Board. Rao was inducted as a member of the Board on January 10, 2014.
He possesses over 35 years of industry experience and mainly oversees the key functions of global delivery and business enablement. Since joining Infosys in the mid-1980s, he has held several senior leadership roles, including Interim Chief Executive Officer(CEO) and Managing Director, Head of Retail, Consumer Packaged Goods, Logistics and Life Sciences, Head of Infrastructure Management Services, Delivery Head for Europe, etc.
He is also a member of the Corporate Social Responsibility Committee of the Board and Stakeholder Relationship Committee. The company COO played an important role in ensuring stability when the IT major went through a CEO change when Vishal Sikka left, and Salil Parekh was appointed.
Infosys today reported September quarter earnings post-market hours. The company’s consolidated profit came in at Rs 5,421 crore, up 11.9% year-on-year (YoY) and 4.4% (QoQ). The earnings were ahead of consensus estimates.
The major reasons for the surge in profit include strong revenue contribution from the Daimler deal, broad-based growth across verticals, higher adoption of digital transformation by clients, and strong seasonality. It also raised its revenue growth guidance to 16.5-17.5% from 14-16% earlier. Infosys’s attrition for the quarter zoomed to 20.1% compared to 13.9% in the previous quarter.