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BG Srinivas to join Hong Kong’s PCCW as group MD

LiveMint logoLiveMint 29-05-2014 PTI

New Delhi: B.G. Srinivas, who resigned as president of Infosys Ltd on Wednesday, will join Hong Kong-based diversified group PCCW Ltd as Group managing director. He’ll join at the position in July this year.

In a surprise move on Wednesday, Infosys announced the resignation of Srinivas, who was considered a top contender for the chief executive’s post at the over $8 billion IT giant, effective 10 June.

In a statement, PCCW on Thursday said: “PCCW is pleased to announce today the appointment of Srinivas Bangalore Gangaiah as its Group Managing Director with effect from July 14.”

Srinivas will succeed George Chan, who will retire from his position as the Group MD, following completion of his contract with the company on 7 July 2014. “I am confident that his (Srinivas) immense IT knowledge, experience in service-oriented organizations, leadership skills and international perspective will provide PCCW Group with additional momentum,” PCCW Chairman Richard Li said. He added that Srinivas will help develop PCCW’s media and IT businesses locally and internationally.

With revenues of over $3.5 billion in 2013, PCCW is a Hong Kong-based company with interests in telecommunications, media, IT solutions, property development and investment, and other businesses.

Srinivas’ resignation is the tenth top-level exit from Infosys since the return of co-founder N.R. Narayana Murthy at the helm of affairs in June last year. He was considered to be among the top contenders for the job of Infosys CEO when S.D. Shibulal retires on 9 January 2015.

At Infosys, Srinivas led key portfolios like financial services, manufacturing and public services. He was also the firm’s highest-paid executive with an annual compensation of Rs7.52 crore in 2013-14 fiscal.

Srinivas, who joined Infosys in 1999, was elevated to the post of president in January. Prior to joining Infosys, Srinivas spent 14 years at power and automation technologies firm ABB India Ltd, where he held several leadership positions.

He holds a degree in mechanical engineering from Bangalore University and has participated in executive programmes at Wharton Business School and Indian Institute of Management, Ahmedabad.

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