In 17 years, Infosys has lost three generations of leaders, Mohandas told television channel, NDTV.
Mohandas brushed aside rumours that say he quit as he did not get the opportunity to be the chief executive officer of the company.
He said it was not a sudden decision and one must leave when others feel 'you should stay on'. "I am quite emotionally devastated," said Pai after his announcement.
Pai, who leaves Infosys on June 11, said that his dream of making Infosys the world's number one IT firm remains unfulfilled.
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Why Mohandas Pai quit Infosys
Image: Mohandas Pai.Mohandas said when Narayana Murthy asked him if he wanted to be COO or CEO, he said, 'No'.
Describing his relationship with Murthy as that of a father and a son, an emotional Pai said: "I lost my father around the time I joined Infosys...he treated me like a son."
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Why Mohandas Pai quit Infosys
Image: British Prime Minister David Cameron speaks during his visit at the Infosys campus.Photographs: Reuters
"I am not joining politics", he said. "I am politically neutral ... my ideology is of an open society under a very liberal democracy," said Pai, who never hesitated to be part of civil society voice on various issues.
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Why Mohandas Pai quit Infosys
Image: Infosys.Photographs: Reuters.
"The point is all the leaders have to make sure that this company carries on and that means that if you are in leadership position after certain period of time, you have to vacate the chair for others to come."
"Like (former India cricket captain and master batsman) Sunil Gavaskar, it is best to go when all of you (media) want to talk to me and ask why are you going? Does not Infosys need you?" said Pai.
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Why Mohandas Pai quit Infosys
Image: Narayana Murthy.In an interview with NDTV, Pai says he had never eyed the post of the CEO.
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Why Mohandas Pai quit Infosys
Image: L-R: Nandan Nilekani, S Gopalakrishnan, N R Narayana Murthy, K Dinesh, N S Raghavan and Shibulal.Photographs: Courtesy, Infosys.
According to Mohandas Pai, companies must have a clear and transparent succession plan in place.
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Why Mohandas Pai quit Infosys
Image: Setback for Infosys.He highlighted the need for the company to look at young and capable leaders.
There are over a 100 people who can be CEOs of small and medium companies, he said.
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Why Mohandas Pai quit Infosys
Image: Infosys CEO S Gopalakrishnan and colleagues at the Nasdaq listing.What worries him is how Infosys has become very conservative.
Experience should be just one of the many conditions while selecting a person for a top job, he said.
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Why Mohandas Pai quit Infosys
Image: Infosys, Bengaluru.Pointing out the need for the young generation to takeover and bring in fresh changes, he citied the example of GE.
"There is tremendous value created, but now it is too late, and that company is just floundering. That's why there has to be constant renewal," he said about GE.
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Why Mohandas Pai quit Infosys
Image: Mohandas Pai.Photographs: Reuters.
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Why Mohandas Pai quit Infosys
Image: Infosys.He was the chief financial officer from 1994 to 2006. In 2006, he voluntarily demitted the office of CFO to lead efforts in the areas of human resources and education and research.
As the CFO, he played a strategic role in transforming Infosys into one of the world's most respected and widely known software services companies, says Infosys.
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