Indian IT major Infosys has announced the retirement of Kiran Mazumdar-Shaw as Independent Director of the Board, effective March 22, 2023, upon completion of her tenure.

The Board has appointed D. Sundaram as the Lead Independent Director of Company, effective March 23, 2023 based on the recommendation of Nomination and Remuneration Committee.

Kiran Mazumdar-Shaw was appointed to the Infosys Board as an Independent Director in 2014, and as Lead Independent Director in 2018. She also served as the Chairperson of the Nomination & Remuneration Committee and CSR Committee, and as a member of the Risk Management and ESG Committees of the Board.

The Board placed on record its appreciation for Shaw's invaluable contribution, guidance, and strategic vision, that has helped the company build and execute a resilient growth strategy.

Sundaram has been on the Board of Infosys since 2017. With his expertise and vast experience in finance and strategy, he has been a crucial catalyst for the company to realise its vision for the future.

Sundaram serves on the Audit Committee, Risk Management Committee, Stakeholders Relationship Committee, Nomination & Remuneration Committee and Cybersecurity Risk Sub-Committee, Infosys stated on Thursday.

On behalf of the Board, Nandan Nilekani, Chairman, Infosys, said, "We profusely thank Kiran for having been such an integral member of the Infosys family, providing valuable guidance and leadership to the Board over the years. I am personally very grateful to her as she has been a tremendous ally and amazing colleague on the Board, ever since I re-joined Infosys in August 2017. We also congratulate Sundaram on being appointed as Lead Independent Director and look forward to his continued insight and steadfast support as Infosys continues its growth and transformation journey."