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Balakrishnan may return to finance role at Infosys

BANGALORE: InfosysBSE 1.20 % board member V Balakrishnan is likely to return to the finance function. Multiple sources told TOI that Bala, as he is known, will be named director of finance. CFO Rajiv Bansal will then report to Bala, instead of chief executiveSD Shibulal. 

When contacted, Infosys said: "As a policy, we do not comment on rumours and speculation." 

Narayana Murthy has been making sweeping changes since his return as the company's executive head. On Tuesday, global sales and marketing head Basab Pradhan announced his exit from the company. Bala, who was the company's CFO until October last year, has since been overseeing the India, BPO and Finacle ( banking software) businesses as a board member. 

In June, he was given the additional responsibility of leading Lodestone as chairman. Lodestone is a Switzerland-based consultancy firm that Infosys acquired last year for $350 million. 

Bala had joined Infosys in 1991 in its finance division and played a key role in the company's Indian IPO in 1993 as well as the first overseas listing in 1999. He took over as CFO from 
T V Mohandas Pai in 2006. In October 2012, the responsibility was handed to Bansal. 

Some described the latest move as yet another indication that Bala is among those being groomed to take the CEO position when Shibulal retires in 2015. Others noted that all are not comfortable in the finance division under the 41-year-old Bansal.