Narayana Murthy resigns on birthday

By agencies   |   Monday, 21 August 2006, 07:00 Hrs
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BANGALORE: Infosys chief N.R. Narayana Murthy stepped down on his 60th birthday yesterday as chairman of IndiaÂ’s second largest software firm software Infosys, which he founded about 25 years ago.

Murthy, whose company was a pioneer of off-shore software outsourcing, grew the $20 billion company by market capitalization in this period.

"Infosys is a shining example of all the good that came out of [market] liberalization," Murthy said last month at the anniversary of the company's founding.

"There are a few good entrepreneurs and for them to succeed they require an incentive. That is the Infosys lesson," he said.

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