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also dropped enough hints that the next CEO would be an internal candidate as they strive to provide enough opportunities to people within. The new CEO will come in place by March 2015 with two presidents — BG Srinivas and UB Pravin Rao having emerged as the front runners.
On the numerous exits, Murthy reiterated “there is considerable depth of leadership available within Infosys” and, hence, there was no crisis.
Infosys has provided a revenue growth guidance of 11.5-12% for FY14, which almost reaches the lower end of Nasscom estimate of 12-14% for the industry. The company had recorded a growth rate of 26% in FY11, which came down to 5.8% in FY13.
Murthy said the company is putting in best efforts to get back its operating profit margins to the earlier level through various initiatives, but did not provide any time frame. “There is a reasonable chance that will we reach the earlier position,” he added.
Infosys' operating profit margin fell from 29.5% in 2010-11 to 23.5% in Q3 of FY14 and Murthy rued the fact the company could not take advantage of the environment of a depreciating rupee, which is by and large beneficial to exporters.