ICICI Bank’s Kamath joins Infosys as director

BANGALORE - Infosys Technologies Ltd appointed K.V. Kamath, non-executive chairman of ICICI Bank, as an additional director to its board, the IT bellwether said Saturday.

‘Kamath will serve as an additional director till the company’s annual general meeting (AGM) June 20. He will be inducted as a non-executive director on the board once his appointment is approved by shareholders,’ Infosys said in a statement here.

Infosys’ chairman and chief mentor N.R. Narayana Murthy said as an outstanding corporate leader, Kamath succeeded in creating a grand vision for ICICI Bank, India’s second largest lender.

‘Implementing such a vision is a rare example of excellent leadership that is at par with the best in the corporate world internationally. His contribution to the Infosys’ board will be significant,’ Murthy said.

An alumni of the Indian Institute of Management-Ahmedabad (IIM-A), Kundapur Vaman Kamath joined ICICI in 1971 when it was a leading Indian financial institution. After a stint at the Asian Development Bank (ADB), Kamath returned to ICICI as its managing director and chief executive in 1996.

Under Kamath’s leadership, the ICICI group transformed into a diversified, technology-driven financial services group, including the bank, which was merged in 2002. He retired from the bank last month.