Chairman return boosts Infosys share price

<p>The share price of Infosys is up after the return of co-founder Narayana Murthy.</p>

The return of co-founder Narayana Murthy to Infosys has led to the share price of the firm rocketing in the last two days.

Stocks in the technology company were up by seven per cent yesterday (June 2nd) and are up by four per cent today on the back of the news.

Mr Murthy's return as executive chairman was announced over the weekend and investors have responded positively to his recall.

The 66-year-old had previously retired but will now be leading the company for the next five years, it was announced.

"This calling was sudden, unexpected, and most unusual. But, then, Infosys is my middle child," Mr Murthy said in a statement.

KV Kamath, the current chairman of the firm's board, stated the re-appointment of Mr Murthy was a response to calls for the company to undergo a "strengthening of the executive leadership during this challenging time".

Shares in Infosys are currently trading for 2512.35 on the Bombay Stock Exchange, up more than 100 points on the start of the day.

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