Saturday, December 02, 2006


Nilekani is Forbes 'Businessman of the Year'

PTI | November 30, 2006 | 15:46 IST

Infosys CEO Nandan Nilekani has been named as 'Businessman of the Year' for 2006 by Forbes Asia for his "nimble" stewardship in keeping the company ahead of peers in the global outsourcing phenomenon.

The 51-year old co-founder of the Bangalore-based firm was picked for his track record in keeping Infosys nimble and ahead of its peers in the global outsourcing phenomenon, Forbes Asia said in a statement.

He has been chief executive since 2002 but took sole charge in August when Infosys founder Narayana Murthy retired.

Under his tenure, Infosys has achieved sustained profitability - after-tax profit grew by 30 per cent in each of the last three years. The most recent quarter ended September 2006 was the best on record.

The revenue reached $746 million, up 13 per cent from the previous quarter and 42 per cent higher than the same period a year ago.

The net income was $199 million for the quarter, a 14 per cent increase over the previous three months and a 44 per cent gain over the same period a year ago, the statement said.

At this pace, Infosys will make more money this year than Central Japan Railway, Fujifilms Holdings and Sharp, all considerably bigger. His record to-date makes Nilekani Forbes Asia's choice for 'Businessman of the Year', the statement said.

"Nilekani is an outstanding example of what the Asian entrepreneurial spirit can achieve. More remarkable is his leadership at Infosys, which has been influential in reshaping and levelling the global business landscape," Tim Ferguson, editor of Forbes Asia said.

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