Infosys senior vice-president Chandrashekar Kakal, whose resignation was announced by the company on Thursday, will join Mumbai-based IT services firm L&T Infotech as its chief operating officer (COO), said sources in the industry.
Kakal, who leads the India business unit, will leave Infosys on April 18. He is likely to join L&T Infotech towards the end of April.
When TOI contacted L&T Infotech, the company spokesperson said, “We do not comment on market speculation.” Repeated phone calls and a text message to Kakal did not elicit a response.
L&T Infotech, an IT services and solutions company, is a wholly-owned subsidiary of the $14-billion construction and engineering major Larsen & Toubro. The company provides end-to-end solutions and services in sectors including BFSI, energy, utilities, consumer electronics and healthcare space.
IT industry body Nasscom ranked L&T Infotech No 8 among IT services companies in India in 2012-13. That year the company had revenue of about Rs 4,000 crore, with a growth of 22%, significantly higher than the industry average. The company expected to touch $1 billion in revenue this year, but it’s not clear if that target would be achieved. It was planning to make acquisitions this year though no acquisition has been announced so far. The last major acquisition was of Citigroup’s Canadian IT outsourcing arm Citigroup Fund Services Canada for $40 million in February 2011.
The firm has a dual CEO structure. The joint CEOs Vivek Chopra and Mukesh Aghi have completed 1.5 years at the helm. Former Wipro exec Sudip Banerjee led the company between 2008 and 2011.