Jun 11, 2012, 08.38 AM IST

Focus on plan 3.0, will see results soon: Infosys AGM

CNBC-TV18’s Sunanda Jayaseelan reports that there no big-ticket announcements at the 31st annual general meeting of IT major Infosys on Saturday.

Source: CNBC-TV18

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IT major Infosys held its 31st annual general meeting (AGM) on Saturday. This was the first AGM not attended by Infosys founder Narayana Murthy who retired from the board on August 21, 2011.

This year's AGM also did not see big-ticket announcements unlike last year when new members of the board were announced, reports CNBC-TV18’s Sunanda Jayaseelan. However, a lot of references where made regarding plans for the present and the outlook for the future.

Infosys chairman KV Kamath and CEO SD Shibulal, while admitting that the global economic environment was challenging and clients were seeking more high-value work, said that the implementation of Infosys 3.0 and the focus on key sectors and verticals were starting to show results.

Shibulal also said that the change in management that Infosys undertook last year was complete and will help Infosys in its '3.0' plans.

Commenting on the visa issue, Shibulal said that he was deeply pained by the allegations. He reiterated that Infosys never had a corporate policy of misusing visas and added that he was confident the company would overcome the problem.

Shibulal said that was confident about the future as net client addition was strong and repeat business was good.