Hemant Lamba steps down as Infosys Executive VP

BENGALURU, INDIA — IT services giant Infosys has announced the resignation of Hemant Lamba, Executive Vice President and Global Head of Strategic Sales.
The company disclosed this development in a statutory filing to the Bombay Stock Exchange, marking the end of Lamba’s seven-year tenure with the firm.
In a resignation letter addressed to Salil Parekh, CEO of Infosys, Lamba expressed his gratitude for the opportunities provided during his time at the firm.
He wrote, “I am writing to inform you of my decision to resign from the services of Infosys. I am thankful for the opportunity and experiences I have had over the years.”
Lamba’s 7-year journey at Infosys
Hemant Lamba joined Infosys in December 2016 as Senior Vice President, eventually rising to the position of Executive Vice President. This was actually Lamba’s second stint with the company, having previously served as Associate Vice President for Banking & Capital Markets in Europe from 2009.
During his time at Infosys, Lamba played a crucial role in leading strategic sales across various industry verticals. His contributions were significant enough to earn him a position as a senior management personnel, reporting directly to Parekh.
Infosys job applications plummet to pre-COVID levels
Infosys experienced a notable decline in job applications and offers, returning to pre-COVID levels.
According to the company’s annual report, Infosys received 2.44 million applications for the financial year ending March 2024, a figure close to the 2.33 million applications received in March 2019.
However, the number of job offers extended has dropped dramatically, with only 26,975 jobs offered last year compared to 94,324 in 2019.
Infosys financial outlook remains stable
Despite the leadership change, Infosys is likely to maintain its growth guidance of 1-3% in constant currency for FY25.
As Infosys prepares to announce its Q1 FY25 financial earnings on July 18, analysts are optimistic about the company’s prospects.
Motilal Oswal expects Infosys to see a rebound in revenue growth to 2.0% QoQ CC, driven by the ramp-up of large deals won in FY24. The operating margin for Infosys in Q1 is anticipated to increase by 30 basis points, potentially reaching 20.4%.
The departure of Lamba opens a new chapter for Infosys, potentially paving the way for fresh strategies and innovations in its approach to global markets.