Infosys board member V Balakrishnan sold 1 lakh equity shares in the company few days before via the open market for Rs 33 crore.
In a regulatory filing on the BSE, Infosys said Balakrishnan sold the 50,000 shares each held by his daughters Sneha and Sweta Balakrishnan. Balakrishnan, who most call Bala, heads Infosys BPO and the India business, and was given additional responsibility of managing the North American region for a new vertical called utilities and resources.
Earlier this year, he was also made the chairman of the Switzerland-based consultancy firm Lodestone that the Bangalore-based IT company acquired last year in a $350-million deal. The overseas responsibilities could be part of a process to groom him for a larger role in the company. Bala is among those in line to succeed incumbent CEO S D Shibulal when his tenure ends in 2015.
In a regulatory filing on the BSE, Infosys said Balakrishnan sold the 50,000 shares each held by his daughters Sneha and Sweta Balakrishnan. Balakrishnan, who most call Bala, heads Infosys BPO and the India business, and was given additional responsibility of managing the North American region for a new vertical called utilities and resources.Earlier this year, he was also made the chairman of the Switzerland-based consultancy firm Lodestone that the Bangalore-based IT company acquired last year in a $350-million deal. The overseas responsibilities could be part of a process to groom him for a larger role in the company. Bala is among those in line to succeed incumbent CEO S D Shibulal when his tenure ends in 2015.
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