The smiling face of Infosys, Mohandas Pai quits

He was the smiling face of Infosys, infusing a livelier spirit and a louder passion as he went about hiring and training tens of thousands of youngsters who power the IT bellwether called Infosys Technologies Limited. He was also the first among the non founders to take on this larger, public persona, and over time became a face and a voice instantly recognised as he interacted on the larger issues of education and training systems that are seen as a weak link in India's growth story.

And he achieved this presence and recognition while working in a company that has titanic founders like Chairman and Chief Mentor N R Narayana Murthy, former Co- Chairman and now head of the Unique Identification Authority of India Nanadan Nilekani, CEO and MD S Gopalakrishnan, and COO S D Shibulal. So on Friday, as Infosys announced its results, the embedded announcement that Pai is leaving the board and the company came as shock for the markets.

Riding on the back of Infosys results that were seen as lower than market expectations and a guidance for growth lower than that projected by analysts, the Infosys stock fell an incredible 9.59 per cent to close the day at Rs. 2,988, down Rs. 317 on the Bombay Stock Exchange. The BSE IT Index was down 6.4 per cent as Infosys dragged sentient and the entire IT pack down. Some saw Pai in the mould of an over ambitious leader who had lost out the race for the top. Others said the exit was a result of succession battles that were still brewing within and would be a blow, coming at a time when the company is preparing for life without the active leadership of Narayana Murthy.

Murthy turns Chairman Emeritus in August, when his term ends. In interviews through the day, Pai himself was quoted as saying that he was leaving to make way for younger leaders who would take Infosys to the next level. " I sent the official mail to Murthy at 10.30 pm last night. Today at 7.45 am it was discussed at the Board Meeting.

I told the board I would like to go," 52- year- old Pai was quoted by PTI as saying. He said he was demitting office to " make way for change". It marked the end of a 17-year career in which Pai got the space he needed as he grew in stature, starting out as Chief Financial Officer and then voluntarily and unconventionally moving to human resources.

He was designated "Head - Administration, Education and Research, Finacle, Human Resources, and Infosys Leadership Institute". Pai himself said had no aspiration to be CEO or COO of Infosys though he was asked by Narayana Murthy if that is what he sought. " I said 'No'. I don't have such aspirations. I spoke to board. I felt this being the (Kannada) New ear, this would be the right time," he was quoted as having said. Also announced on Friday was the exit of Mr. K. Dinesh, member of the Infosys board and a co- founder of the company, A three- member nominations committee is working to present a succession plan and names to fill the positions of CEO, COO and CFO. The board of directors has scheduled a meeting on April 30 to finalise the new leadership line up. Infosys employs 1,30,820 people and reported revenues of Rs. 27,500 crores for the year ended March 2011.