N. R. Narayana Murthy

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N. R. Narayana Murthy
Narayana Murthy CIF (cropped).JPG
Murthy in 2014
Born
Nagavara Ramarao Narayana Murthy

(1946-08-20) 20 August 1946 (age 78) [1]
Sidlaghatta, Kingdom of Mysore, British India
(present-day Karnataka, India)
Alma mater National Institute of Engineering, Mysuru (BE)
IIT Kanpur (MTech)
Known forFounder and Chairman Emeritus of Infosys [2]
Board member of United Nations Foundation [3]
Ford Foundation [4]
Spouse
​
(m. 1978)​
[5]
Children Akshata Murty
Rohan Murty
Relatives Rishi Sunak (son-in-law)
Shrinivas Kulkarni (brother-in-law)
Gururaj Deshpande (brother-in-law)
Awards

Nagavara Ramarao Narayana Murthy (born 20 August 1946) is an Indian billionaire businessman. He is one of the seven co-founders of Infosys, [6] and has previously served as the chairman, chief executive officer (CEO), president, and chief mentor [7] of the company before retiring and taking the title chairman emeritus. [8] [9] [10] As of August 2024, his net worth was estimated to be $5.1 billion, making him the 606th richest person in the world according to Forbes . [11] Murthy is the father-in-law of Rishi Sunak, the former Prime Minister of the United Kingdom from 2022 to 2024.

Contents

As per Forbes list of India’s 100 richest tycoons, dated OCTOBER 09, 2024, N.R. Narayana Murthy is ranked 62nd with a net worth of $5.3 Billion. [12]

Murthy was born and raised in Shidlaghatta, Karnataka. Murthy first worked at the Indian Institute of Management Ahmedabad, as chief systems programmer, and Patni Computer Systems in Pune, Maharashtra. He founded Infosys in 1981 and was the CEO from 1981 to 2002, as well as the chairman from 2002 to 2011. In 2011, he stepped down from the board and became the chairman emeritus. In June 2013, Murthy was appointed as the executive chairman for a period of five years. [13] [14]

Murthy has been listed among the 12 greatest entrepreneurs of our time by Fortune magazine. [15] He has been described as the "father of the Indian IT sector" by Time magazine and CNBC for his contribution to outsourcing in India. [16] [17] In 2005, he co-chaired the World Economic Forum in Davos, Switzerland. [18] Murthy has been honoured with the Padma Vibhushan [19] and Padma Shri awards. [20]

Early life and education

N. R. Narayana Murthy was born on 20 August 1946 in Sidlaghatta, a city in India's south-western state of Karnataka [21] into a middle-class Hindu family. [22] After completing his school education, he went to the National Institute of Engineering and graduated in 1967 with a bachelor's degree in electrical engineering. In 1969 he received his master's degree from the Indian Institute of Technology Kanpur. [23] [24]

In 2007, Murthy received an honorary degree from Lancaster University. [25]

Career

Murthy first worked as a research associate under a faculty at IIM Ahmedabad and then later as the chief systems programmer. [26] There he worked on India's first time-sharing computer system [24] and designed and implemented a BASIC interpreter for Electronics Corporation of India Limited. [27] He started a company named Softronics. When that company failed after about a year and a half, he joined Patni Computer Systems in Pune. [28]

Murthy mentions that being arrested and expelled for no good reason during the communist era 1974 in a border town near the Yugoslav-Bulgarian border, turned him into a "compassionate capitalist" from a "confused leftist/communist". In 1981 he, with six software professionals, founded Infosys [29] [30] [31] with an initial capital investment of Rs 10,000, which was provided by his wife Sudha Murty. [32] Murthy was the CEO of Infosys for 21 years from 1981 to 2002 [30] and was succeeded by co-founder Nandan Nilekani. [32] At Infosys he articulated, designed and implemented a global delivery model for IT services outsourcing from India. [33] He was the chairman of the board from 2002 to 2006, after which he also became the chief mentor. [32] [34] In August 2011, he retired from the company, taking the title chairman emeritus. [9] [10]

Murthy with Narendra Modi in 2014 The Founder, Infosys, Shri N.R. Narayana Murthy calling on the Prime Minister, Shri Narendra Modi, in New Delhi on December 05, 2014.jpg
Murthy with Narendra Modi in 2014

Murthy is an independent director on the corporate board of HSBC and has been a director on the boards of DBS Bank, Unilever, ICICI and NDTV. [11] [35] He is also a member of the advisory boards and councils of several educational and philanthropic institutions, [11] [35] including Cornell University, INSEAD, ESSEC, Ford Foundation, the UN Foundation, the Indo-British Partnership, Asian Institute of Management, a trustee of the Infosys Prize, a trustee of the Institute for Advanced Study in Princeton, and as a trustee of the Rhodes Trust. [36] He is also the Chairman of the Governing board of Public Health Foundation of India. [37] He is on the Asia Pacific advisory board of British Telecommunications. [35] [38]

In June 2013, Murthy returned to Infosys as executive chairman and a director. [39] In June 2014, he stood down as executive chairman, was non-executive chairman until October, when he became chairman emeritus. [40]

Murthy is also on the strategic board which advises the national law firm, Cyril Amarchand Mangaldas, on strategic, policy and governance issues. [41] He is a member of IESE's International Advisory Board (IAB). [42]

In 2010, Murthy has made an investment in SKS Microfinance along with venture capitalist Vinod Khosla. [43]

In 2011, Murthy has made a controversial statement on IIT Students about their abilities. [44]

In 2016, Murthy spoke with Harvard Business Review Ascend [45] on the subject of "How To Be a Better Manager". [46]

In 2017, Murthy raised concerns over alleged corporate governance lapses at Infosys, however the company went on to deny these claims. [47]

Personal life

Murthy's wife Sudha is an educator, author, and philanthropist who has served as the chairperson of the non-profit Infosys Foundation. [48] They have two children together: a son, Rohan, and a daughter, Akshata. [49] From June 2013 to June 2014, Rohan Murthy joined Infosys as an executive assistant to his father. [50] [40] He left Infosys to create his own company called Soroco in 2014. [51] In 2009, Akshata married British-Indian Conservative politician Rishi Sunak, who served as Prime Minister of the United Kingdom from 2022 to 2024. [52]

Awards and honours

President Pratibha Patil presenting the Padma Vibhushan to N. R. Narayana Murthy, at Rashtrapati Bhavan, in 2008 The President, Smt. Pratibha Devisingh Patil presenting the Padma Vibhushan to Shri N.R. Narayana Murthy, at an Investiture-I Ceremony, at Rashtrapati Bhavan, in New Delhi on May 05, 2008.jpg
President Pratibha Patil presenting the Padma Vibhushan to N. R. Narayana Murthy, at Rashtrapati Bhavan, in 2008
YearNameAwarding organizationRef.
2000 Padma Shri Government of India [20]
2002IET Honorary FellowInstitution of Engineering and Technology [53]
2003 Ernst & Young World Entrepreneur Of The Year Ernst & Young World Entrepreneur of the Year Jury [54]
2007 IEEE Ernst Weber Engineering Leadership Recognition Institute of Electrical and Electronics Engineers [55]
2007 Honorary Commander of the Order of the British Empire (CBE) Government of United Kingdom [56]
2007 Honorary Degree Lancaster University [57]
2008 Officer of the Legion of Honour Government of France [58]
2008 Padma Vibhushan Government of India [59]
2009 Woodrow Wilson Award for Corporate Citizenship Woodrow Wilson International Center for Scholars [60]
2009Doctorate of Science (Honoris Causa) Shri Mata Vaishno Devi University
2010 IEEE Honorary Membership Institute of Electrical and Electronics Engineers. [61]
2011 NDTV Indian of the Year's Icon of India NDTV [62]
2012 Hoover Medal American Society of Mechanical Engineers [63]
2013Philanthropist of the Year The Asian Awards [64]
2013 Sayaji Ratna Award Baroda Management Association, Vadodara [65]
201325 Greatest Global Indian Living Legends NDTV [66] [67] [68]
2014 CIF Global Indian Award Canada India Foundation [69]
2022 Kempegowda Award Bruhat Bengaluru Mahanagara Palike (BBMP) [70]
2024India Lifetime Achievement Award as a part of the 2024 Patrick J. McGovern AwardsChiratae Ventures [71]

Books

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<span class="mw-page-title-main">Sudha Murty</span> Member of Rajya Sabha (born 1950)

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Akshata Narayana Murty is an Indian heiress, businesswoman, fashion designer, and venture capitalist. She is the wife of former prime minister of the United Kingdom Rishi Sunak and the daughter of N. R. Narayana Murthy, a founder of the Indian multinational IT company Infosys, and Sudha Murty. She holds a 0.93 per cent stake in Infosys, along with shares in several other British businesses.

References

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  8. ↑ "From disruptors to financial magnates, here are a few IITians who made their mark on Indian and global turf". Firstpost. Retrieved 22 July 2019.
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  22. ↑ "A woman's place is in the kitchen: My experience as the only girl in engineering school in 1968". 26 July 2017.
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  24. 1 2 "Narayana Murthy on Achievers' Club". Archived from the original on 29 January 2013. Retrieved 1 June 2013.
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  32. 1 2 3 "Infosys Chairman Narayana Murthy Steps Down". yentha.com. 20 August 2011. Archived from the original on 9 February 2013. Retrieved 20 August 2011.
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  34. ↑ Non-Executive Chairman – MSN Report.
  35. 1 2 3 Bloomberg Businessweek profile – N. R. Narayana Murthy CBE
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  40. 1 2 "Vishal Sikka to be CEO and MD of Infosys, Murthy Non-Executive Chairman". news.biharprabha.com. 12 June 2014. Retrieved 12 June 2014.
  41. ↑ Vyas, Maulik. "Cyril Shroff ropes in business luminaries like Narayana Murthy, Deepak Parekh, Uday Kotak and others for advisory board of his law firm". The Economic Times. Retrieved 10 August 2015.
  42. ↑ Members of IESE's International Advisory Board, iese.edu
  43. ↑ "Profiting from poverty? SKS Microfinance IPO sparks debate: Narayana Murthy". livemint. 9 April 2010. Retrieved 9 April 2010.
  44. ↑ "Poor quality of students entering IITs: Narayana Murthy". Indiatoday. 4 October 2011. Retrieved 4 October 2011.
  45. ↑ "How To Be a Better Manager – An Interview with N. R. Narayana Murthy". hbrascend.org. 26 November 2017.
  46. ↑ "How To Be a Better Manager - An Interview with N. R. Narayana Murthy". hbrascend.org. Retrieved 14 February 2020.
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  52. ↑ "Rishi Sunak: The wealthy millennial who rocketed to power". BBC News. 25 October 2022.
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  56. ↑ "British Honorary Awards". Archived from the original on 23 December 2012.
  57. ↑ "Honorary Graduates". Lancaster University. Retrieved 8 April 2024.
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  60. ↑ "Wilson Center Awards Dinner in New Delhi, India". Woodrow Wilson International Center for Scholars . Retrieved 9 January 2009.
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  64. ↑ Sharma, Meera (18 April 2013). "Special Report: Asian Awards 2013".
  65. ↑ BMA to honour Narayana murthy The Times of India. 11 March 2013
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  69. ↑ N R Narayana Murthy presented 'Global Indian Award' in Canada The Times of India. 28 April 2014
  70. ↑ "SM Krishna, Narayana Murthy, Prakash Padukone selected for Kempegowda Award". Hindustan Times. 25 June 2022. Retrieved 25 January 2023.
  71. ↑ Shukla, Piyush (19 October 2024). "Chiratae Ventures Honors Narayana Murthy with Patrick J. McGovern Awards". adda247. Retrieved 21 October 2024.

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