Mohit Joshi, President Of Infosys, Steps Down

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Mohit Joshi, President Of Infosys, Steps Down
11 Mar 2023
5 min read

News Synopsis

Mohit Joshi, the president of Infosys and the company's business leader for healthcare and life sciences, has resigned from his position. Joshi will remain there until June 9, 2023, according to an Infosys regulatory filing with the stock exchanges.

"Mohit Joshi, president of Infosys, a leader in next-generation digital services and consulting, has announced his resignation. He will be on leave from March 11, 2023, and his last day of service will be June 9, 2023 "According to the company's announcement.

Joshi began working for Infosys in 2000 and has held various positions inside the tech giant. Also, he served as the chairman of Edgeverve Systems, where he was in charge of the software division, which included the international banking platform Finacle.

Almost 1.05 billion consumers and 1.3 billion accounts are served by Finacle, which is utilized extensively by banks in 100 different countries. Established financial institutions, financial technology businesses (Fintech), digital-only banks, and non-financial companies all use it as their preferred platform.

This is Infosys' second significant exit in recent years. Ravi Kumar S just joined Cognizant as its CEO after leaving Infosys.

Software development firm Infosys Technologies Ltd. is based in Electronics City, Bangalore, India, which is referred to as "India's Silicon Valley" due to the concentration of high-tech foreign and domestic companies there. Infosys Technologies, which was cofounded by Chairman and CEO N.R. Narayana Murthy, has achieved a number of firsts for an Indian business, including being the first to list on an American stock exchange and being the first to provide an employee stock option plan (ESOP). Due to the company's ESOP, about 500 employees are now millionaires. Infosys Technologies delivered software for enterprise resource planning (ERP), Y2K compliance, electronic commerce, and other applications for 200 American companies among the company's international clientele in 2000.

With a combined investment of roughly $1,000, N.R. Narayana Murthy and seven other software engineers launched Infosys Technologies Ltd. in Bangalore, India, in 1981. Murthy, the eighth child of an Indian village official, will become the CEO and chairman of the business. Because of his mathematical ability and Western management style, he rose to become the most prestigious manager in India. In the United States, the business established its first overseas branch in 1987.

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