Infosys on Thursday announced the retirement of Kiran Mazumdar-Shaw as Independent Director of the board and appointment of D Sundaram as the lead Independent Director, the company said in an exchange filing. While Shaw retired upon completion of her tenure on March 22, Sundaram took over effective March 23, 2023. The new appointment was based on the recommendation of the Nomination and Remuneration Committee.
Kiran Mazumdar-Shaw, founder and Chairperson of Biocon Ltd, is among the richest self-made women leaders in India. She was appointed to the Infosys Board as an Independent Director in 2014, and as Lead Independent Director in 2018. She also served as the Chairperson of the Nomination & Remuneration Committee and CSR Committee, and as a member of the Risk Management and ESG Committees of the Board, Infosys said.
“I am personally very grateful to her as she has been a tremendous ally and amazing colleague on the Board, ever since I re-joined Infosys in August 2017. We also congratulate Sundaram on being appointed as Lead Independent Director and look forward to his continued insight and steadfast support as Infosys continues its growth and transformation journey,” said Nandan Nilekani, Chairman, Infosys.
D Sundaram has been on the Infosys Board since 2017. He serves on the Audit Committee, Risk Management Committee, Stakeholders Relationship Committee, Nomination & Remuneration Committee and Cybersecurity Risk Sub-Committee.
Sundaram had started his career with Unilever group in India as a management trainee in 1975 and since then was promoted with senior soles with the Group in Accounting, Commercial and Treasury functions. He was the finance offer at Unilever (London) for Africa and Middle East Region, Finance Director and Board Member of Brooke Bond Lipton India (at Bengaluru) and Senior Vice-President (Finance), South Asia and Middle East Group based at Unilever, London. He was appointed as the finance director and board member of HUL and was later elevated as vice-chairman and CFO. Before leaving HUL in July 2009, he had served Unilever companies in Pakistan, Bangladesh and Sri Lanka.
He later joined TVS Capital Funds as MD and Vice Chairman. Sundaram was an Independent Director on the Boards of GlaxoSmithKline Pharmaceuticals
The new lead independent director of Infosys is a Commerce Graduate and a Post Graduate in Management Studies from Chennai. He is a Fellow of the Institute of Cost Accountants and has completed the Advanced Management Programme at Harvard Business School.