Indian IT outsourcer Infosys names new CEO as co-founder steps down

MUMBAI, India – Indian outsourcing giant Infosys appointed a new chief executive on Thursday to help revive its flagging fortunes.

Vishal Sikka told reporters that he felt honoured to lead India’s second-largest technology outsourcer and was looking forward to working with “talented Infoscions” around the world.

The co-founder of the company, Narayana Murthy, stepped down as executive chairman on Thursday after returning to the company last year as part of its overhaul.

Sikka is the first outsider to hold the top job at Infosys, having been a board member of SAP AG, another technology company, and working on developing new technology for cloud-based computing. Infosys has been focusing on contracts to develop cloud-based technology — managing companies’ information on Internet servers instead of on paper in back offices — to revive business with clients reluctant to spend on development.

Several top executives left Infosys in the past year, unsettling shareholders.

Infosys has suffered along with other Indian outsourcers from lower spending by clients during the global downturn but orders have recently picked up from the U.S. and Europe.