Companies news of 2013-06-01 (page 1)

  • Infosys Board Appoints Mr. N R Narayana Murthy as Executive Chairman of the Board
  • Infosys Board Appoints Mr. N R Narayana Murthy as Executive Chairman of the Board
  • AT&T Prepared To Keep Alabama Customers Connected During Hurricane SeasonCompany's...



    Infosys Board Appoints Mr. N R Narayana Murthy as Executive Chairman of the Board

    BANGALORE, India, June 1, 2013 /PRNewswire/ --

    Infosys Limited announced today that the Company's Board has appointed Mr. N R Narayana Murthy into the Board and executive leadership of the Company. In a meeting held earlier today, the Board approved appointing Mr. N R Narayana Murthy as Executive Chairman of the Board and Additional Director with effect from June 1, 2013.

    (Logo: http://photos.prnewswire.com/prnh/20130122/589162 )

    Mr. Murthy's election as a Director would be placed for the consideration of the Company's shareholders in the Annual General Meeting (AGM) on June 15, 2013. Subject to his election as a director at the AGM, the Board will take up in its meeting on June 15, 2013 the resolutions for convening an extraordinary general meeting within the requisite period, in order to seek approval from the shareholders for appointing him as the Executive Chairman and Whole-time Director for a period of five years commencing on June 1, 2013.

    Mr. K V Kamath would step down from his position as Chairman of the Board and take up the position of Lead Independent Director effective June 1, 2013.

    Mr. K V Kamath said, "The Board has taken this step keeping in mind the challenges that the technology industry and the Company faces and in the interest of all stakeholders, particularly shareholders large and small, who have asked for strengthening of the executive leadership during this challenging time. Murthy's entrepreneurial and leadership record and the long experience he has had as a technology pioneer make him eminently qualified to lead the company and provide strategic direction at this point in time."

    Mr. N R Narayana Murthy said, "This calling was sudden, unexpected, and most unusual. But, then, Infosys is my middle child. Therefore, I have put aside my plans-in-progress and accepted this responsibility. I am grateful to Mr. K V Kamath - the Chairman, the Board, and every Infoscion for giving me this opportunity. I intend to do my best to add value to the Company in this challenging situation."

    During his five-year term, Mr. Murthy would draw a token compensation of Rupee One per year.

    Mr. S Gopalakrishnan would be re-designated Executive Vice Chairman effective June 1, 2013 and would primarily focus on key client relationships and broader industry issues. Mr. S D Shibulal would continue to be the Managing Director and CEO.

    Mr. S Gopalakrishnan and Mr. S D Shibulal have requested that they draw a compensation of Rupee One per year. The Board has accepted their requests, subject to necessary shareholder and government approvals.

    In order to function more effectively Mr. Narayana Murthy intends to create the Chairman's office to assist him during his tenure and has requested the Board to permit him to put together a team for this function. The team will include his son, Dr. Rohan Murty, as Mr. Narayana Murthy's executive assistant.

    Mr. Rohan Murty is a Junior Fellow in the Society of Fellows at Harvard University. He has a Ph.D. in Computer Science from Harvard University and a Bachelor's degree in Computer Science from Cornell University and has held fellowships at MIT, Caltech, and Microsoft Research. He has authored several papers and patents as part of his research on wireless and mobile computing. If appointed, Mr. Rohan Murty's term as Executive Assistant to the Chairman would be co-terminus with that of Mr. Narayana Murthy. Mr. Rohan Murty has requested that he should also be paid only a token compensation of Rupee One per year.

    The Board has agreed to Mr. Narayana Murthy's requests, subject to necessary approvals.

    About Infosys

    Infosys is a global leader in business consulting and technology solutions. As a proven partner focused on building tomorrow's enterprise, Infosys enables clients in more than 30 countries to outperform the competition and stay ahead of the innovation curve.

    Ranked in the top tier of Forbes' 100 most innovative companies, Infosys - with $7B in annual revenues and 150,000+ employees -- provides enterprises with strategic insights on what lies ahead. We help enterprises transform and thrive in a changing world through strategic consulting, operational leadership and the co-creation of breakthrough solutions, including those in mobility, sustainability, big data and cloud computing.

    Visit http://www.infosys.com to see how Infosys is Building Tomorrow's Enterprise(R) today.

    Safe Harbor

    Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2013 and on Form 6-K for the quarters ended June 30, 2012, September 30, 2012 and December 31, 2012.These filings are available at http://www.sec.gov [http://www.infosys.com/Links/redirectlink.aspx?id=sec-gov.aspx ]. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company, unless required by law.

    Photo: http://photos.prnewswire.com/prnh/20130122/589162

    Photo: http://photos.prnewswire.com/prnh/20130122/589162 Infosys

    CONTACT: For Further information please contact: INDIA - Sukanya Ghosh,
    Phone: +91-7829915577, Sukanya_ghosh02@infosys.com ; EMEA - Paul De Lara,
    Infosys, UK, Phone: +44(0)2075162748, Paul_deLara@infosys.com ; AMERICAS -
    Danielle D'Angelo, Infosys, US, Phone: +1-925-719-7602,
    Danielle_Dangelo@infosys.com




    Infosys Board Appoints Mr. N R Narayana Murthy as Executive Chairman of the Board

    BANGALORE, India, June 1, 2013 /PRNewswire/ --

    Infosys Limited announced today that the Company's Board has appointed Mr. N R Narayana Murthy into the Board and executive leadership of the Company. In a meeting held earlier today, the Board approved appointing Mr. N R Narayana Murthy as Executive Chairman of the Board and Additional Director with effect from June 1, 2013.

    (Logo: http://photos.prnewswire.com/prnh/20130122/589162 )

    Mr. Murthy's election as a Director would be placed for the consideration of the Company's shareholders in the Annual General Meeting (AGM) on June 15, 2013. Subject to his election as a director at the AGM, the Board will take up in its meeting on June 15, 2013 the resolutions for convening an extraordinary general meeting within the requisite period, in order to seek approval from the shareholders for appointing him as the Executive Chairman and Whole-time Director for a period of five years commencing on June 1, 2013.

    Mr. K V Kamath would step down from his position as Chairman of the Board and take up the position of Lead Independent Director effective June 1, 2013.

    Mr. K V Kamath said, "The Board has taken this step keeping in mind the challenges that the technology industry and the Company faces and in the interest of all stakeholders, particularly shareholders large and small, who have asked for strengthening of the executive leadership during this challenging time. Murthy's entrepreneurial and leadership record and the long experience he has had as a technology pioneer make him eminently qualified to lead the company and provide strategic direction at this point in time."

    Mr. N R Narayana Murthy said, "This calling was sudden, unexpected, and most unusual. But, then, Infosys is my middle child. Therefore, I have put aside my plans-in-progress and accepted this responsibility. I am grateful to Mr. K V Kamath - the Chairman, the Board, and every Infoscion for giving me this opportunity. I intend to do my best to add value to the Company in this challenging situation."

    During his five-year term, Mr. Murthy would draw a token compensation of Rupee One per year.

    Mr. S Gopalakrishnan would be re-designated Executive Vice Chairman effective June 1, 2013 and would primarily focus on key client relationships and broader industry issues. Mr. S D Shibulal would continue to be the Managing Director and CEO.

    Mr. S Gopalakrishnan and Mr. S D Shibulal have requested that they draw a compensation of Rupee One per year. The Board has accepted their requests, subject to necessary shareholder and government approvals.

    In order to function more effectively Mr. Narayana Murthy intends to create the Chairman's office to assist him during his tenure and has requested the Board to permit him to put together a team for this function. The team will include his son, Dr. Rohan Murty, as Mr. Narayana Murthy's executive assistant.

    Mr. Rohan Murty is a Junior Fellow in the Society of Fellows at Harvard University. He has a Ph.D. in Computer Science from Harvard University and a Bachelor's degree in Computer Science from Cornell University and has held fellowships at MIT, Caltech, and Microsoft Research. He has authored several papers and patents as part of his research on wireless and mobile computing. If appointed, Mr. Rohan Murty's term as Executive Assistant to the Chairman would be co-terminus with that of Mr. Narayana Murthy. Mr. Rohan Murty has requested that he should also be paid only a token compensation of Rupee One per year.

    The Board has agreed to Mr. Narayana Murthy's requests, subject to necessary approvals.

    About Infosys

    Infosys is a global leader in business consulting and technology solutions. As a proven partner focused on building tomorrow's enterprise, Infosys enables clients in more than 30 countries to outperform the competition and stay ahead of the innovation curve.

    Ranked in the top tier of Forbes' 100 most innovative companies, Infosys - with $7B in annual revenues and 150,000+ employees -- provides enterprises with strategic insights on what lies ahead. We help enterprises transform and thrive in a changing world through strategic consulting, operational leadership and the co-creation of breakthrough solutions, including those in mobility, sustainability, big data and cloud computing.

    Visit http://www.infosys.com to see how Infosys is Building Tomorrow's Enterprise(R) today.

    Safe Harbor

    Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2013 and on Form 6-K for the quarters ended June 30, 2012, September 30, 2012 and December 31, 2012.These filings are available at http://www.sec.gov [http://www.infosys.com/Links/redirectlink.aspx?id=sec-gov.aspx ]. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company, unless required by law.

    Photo: http://photos.prnewswire.com/prnh/20130122/589162

    Infosys

    CONTACT: For Further information please contact: INDIA - Sukanya Ghosh,
    Phone: +91-7829915577, Sukanya_ghosh02@infosys.com ; EMEA - Paul De Lara,
    Infosys, UK, Phone: +44(0)2075162748, Paul_deLara@infosys.com ; AMERICAS -
    Danielle D'Angelo, Infosys, US, Phone: +1-925-719-7602,
    Danielle_Dangelo@infosys.com

    AT&T Prepared To Keep Alabama Customers Connected During Hurricane SeasonCompany's disaster response program first in country certified by federal government

    MOBILE, Ala., June 1, 2013 /PRNewswire/ -- AT&T is committed to providing its customers reliable communications during the upcoming hurricane season - before, during and after storms - and has one of the industry's largest and most advanced disaster response programs to keep its networks operational.

    (Logo: http://photos.prnewswire.com/prnh/20120612/DA23287LOGO)

    "Communication is critical when severe weather disrupts our day to day routines. That's why AT&T invests an enormous amount of time and energy in our network reliability and disaster response capabilities," said Fred McCallum, president, AT&T Alabama. "We know people count on their service when bad weather hits, so we work hard to ensure customers can stay connected with friends, family and neighbors by making a phone call, texting or accessing the Internet."

    AT&T's response capabilities are part of its Network Disaster Recovery (NDR) program, a cutting edge system the company created in 1991 to provide the capability to rapidly respond to events that impact our network, including catastrophic acts of nature. Since that time, AT&T has invested more than $600 million in the NDR and activated it more than 20 times, including the September 11 attacks on the World Trade Center in 2001, Hurricanes Katrina and Rita in 2005, Hurricane Irene in 2011, and Hurricane Sandy last year.

    The NDR arsenal of equipment includes 300 technology and equipment trailers that can be quickly deployed, making it one of the nation's largest and most advanced disaster programs. Last year, AT&T received the Department of Homeland Security's Voluntary Private Sector Preparedness Program (PS-Prep) certification. The PS-Prep certification reflects AT&T's commitment to planning so that we can minimize any disruption to our networks in the face of a natural or man-made disaster so consumers, businesses and emergency responders can communicate during and after these events.

    The Network Disaster Recovery team works closely with other AT&T response teams (e.g., power and wireless), local AT&T network personnel, regional Emergency Operations Centers and Local Response Centers to restore and maintain service until permanent repairs can be made.

    The ability to quickly respond in the wake of a disaster is critical to maximizing network reliability. AT&T conducts readiness drills and simulations throughout the year to ensure our networks are prepared and our personnel are ready to respond at a moment's notice. NDR will complete its 70(th) full-field recovery exercise this year. Additionally, the AT&T Global Network Operations Center monitors our networks 24/7.

    AT&T has continued to enhance network capabilities in hurricane-prone areas by various proactive steps such as installing more back-up and permanent generators at critical cell sites and switching facilities; locating critical equipment in less vulnerable areas; upgrading electronics critical to network operations above expected flood levels; and protecting physical facilities against flooding.

    Additional AT&T standard pre-storm network preparations typically include:

    --  Adding capacity to the wireless network to accommodate increased call
    volume.
    --  Testing the high-capacity backup batteries located at  cell sites.
    --  Staging extended battery life and portable generators and maintaining
    existing fixed generators.
    --  Topping off generators with fuel at cell sites and central and
    field-level switching facilities.
    --  Using natural gas in some of the permanent generators to eliminate the
    need to refuel.
    --  Staging generators in safe locations for their immediate deployment once
    a storm has passed.
    

    Response equipment readied in the wake of an event includes:

    --  Mobile cell sites and mobile command centers
    --  Emergency communications vehicles
    --  A self-sufficient base camp, complete with sleeping tents, bathrooms,
    kitchen, laundry facilities, on-site nurse and meals ready to eat (MREs)
    --  Hazmat equipment and supplies
    --  Technology and support trailers to provide infrastructure support and
    mobile heating ventilation and air conditioning
    --  Internal and external resources for initial assessment and recovery
    efforts
    

    Just as we prepare our networks and personnel, AT&T encourages residents and small businesses to consider the following recommendations in preparation for this year's hurricane season.

    Consumer Tips:

    --  Keep your wireless phone batteries charged at all times. Have an
    alternative plan to recharge your battery in case of a power outage,
    such as using your car charger to charge your device or having extra
    mobile phone batteries on hand.
    --  Keep your wireless phone dry. The biggest threat to your device during a
    hurricane is water, so keep your equipment safe from the elements by
    storing it in a baggie or some other type of protective covering.
    --  Have a family communication plan in place. Designate someone out of the
    area as a central contact, and make certain that all family members know
    who to contact if they get separated. Most importantly, practice your
    emergency plan in advance.
    --  Program all of your emergency contact numbers and e-mail addresses into
    your mobile phone. Numbers should include the police department, fire
    station and hospital, as well as your family members.
    --  Forward your home number to your wireless number in the event of an
    evacuation. Because call forwarding is based out of the telephone
    central office, you will get incoming calls from your landline phone
    even if your local telephone service is disrupted at your home. In the
    unlikely event that the central office is not operational, services such
    as Voicemail, Call Forwarding, Remote Access call forwarding and call
    forwarding busy line/don't answer may be useful.
    --  Track the storm and access weather information on your wireless device.
    Many homes lose power during severe weather. If you have a working
    wireless device that provides access to the Internet, you can watch
    weather reports through services like AT&T U-verse Live TV or keep
    updated with local radar and severe weather alerts through My-Cast((R))
    Weather, if you subscribe to those services.
    --  Camera phones provide assistance. If you have a camera phone, take,
    store and send photos -- even video clips -- of damaged property to your
    insurance company from your device.
    --  Take advantage of location-based mapping technology.  Services such as
    AT&T Navigator and AT&T FamilyMap can help you seek evacuation routes or
    avoid traffic congestion from downed trees or power lines, as well as
    track a family member's wireless device in case you get separated.
    

    Small Business Tips:

    --  Set up a call-forwarding service to a predetermined backup location. Set
    up a single or multiple hotline number(s) for employees, employees'
    families, customers and partners, as appropriate, to call so that all
    parties know about the business situation and emergency plan. For this
    to be most effective, maintain an updated contact list, including mobile
    and home phone numbers and e-mail addresses, for all employees.
    --  Protect hardware/software/data records/employee records, etc. Routinely
    back up these files to an off-site location. Use a generator for
    supplying backup power to vital computer hardware and other
    mission-critical equipment. Prearrange the replacement of damaged
    hardware with vendors to ensure quick business recovery.
    --  Outline detailed plans for evacuation and shelter-in-place plans.
    Practice these plans (employee training, etc.). Establish a backup
    location for your business and meeting place for all employees.
    
    --  Assemble a crisis-management team and coordinate efforts with
    neighboring businesses and building management. Be aware that disasters
    affecting your suppliers also affect your business. Outline a plan for
    supply chain continuity for business essentials.
    --  Consider a back-up cellular network. Services like AT&T Remote Mobility
    Zone, allows organizations to protect their critical communications by
    installing small cell sites at the businesses' locations.  If a disaster
    disables primary communications networks, the back-up cellular network
    can help keep your company connected.
    

    Maximizing Service During and After a Hurricane:

    --  Try text messaging. During an emergency situation, text messages may go
    through more quickly than voice calls because they require fewer network
    resources. All of AT&T's wireless devices are text messaging capable.
    Depending on your text or data plan, additional charges may apply.
    --  Be prepared for high call volume. During an emergency, many people are
    trying to use their phones at the same time. The increased calling
    volume may create network congestion, leading to "fast busy" signals on
    your wireless phone or a slow dial tone on your landline phone. If this
    happens, hang up, wait several seconds and then try the call again. This
    allows your original call data to clear the network before you try
    again.
    --  Keep non-emergency calls to a minimum, and limit your calls to the most
    important ones. If there is severe weather, chances are many people will
    be attempting to place calls to loved ones, friends and business
    associates.
    

    Additional information and tips for disaster preparedness can be found at www.att.com/vitalconnections.

    *AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.

    About AT&T
    AT&T Inc. is a premier communications holding company and one of the most honored companies in the world. Its subsidiaries and affiliates - AT&T operating companies - are the providers of AT&T services in the United States and internationally. With a powerful array of network resources that includes the nation's largest 4G network, AT&T is a leading provider of wireless, Wi-Fi, high speed Internet, voice and cloud-based services. A leader in mobile Internet, AT&T also offers the best wireless coverage worldwide of any U.S. carrier, offering the most wireless phones that work in the most countries. It also offers advanced TV services under the AT&T U-verse((R)) and AT&T ?DIRECTV brands. The company's suite of IP-based business communications services is one of the most advanced in the world.

    Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/aboutus or follow our news on Twitter at @ATT, on Facebook at http://www.facebook.com/att and YouTube at http://www.youtube.com/att.

    (C) 2013 AT&T Intellectual Property. All rights reserved. 4G not available everywhere. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

    Photo: http://photos.prnewswire.com/prnh/20120612/DA23287LOGO AT&T

    CONTACT: Lance M. Skelly, Director of Corporate Communications,
    404.986.1784, Lance.Skelly@att.com

    Web site: http://www.att.com/

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