Pai will be succeeded by V Balakrishnan, who is currently senior vice-president (finance) and company secretary.
According to Infosys Chairman and Chief Mentor NR Narayana Murthy, Pai is voluntarily giving up the CFO's position in keeping with his belief that younger people should get strategic opportunities early enough to shape Infosys' future.
Infosys wants to be more respectable: Murthy
"As we continue to scale up, the major challenges for Infosys will be in the HRD and E&R areas as we plan to hire 25,000 people this year," Murthy added.
US Senator Larry Pressler, who is an independent director on the Infosys board, will not seek re-election in the forthcoming annual general meeting.
He will be replaced by Jeffrey Sean Lehman as additional director with immediate effect. Lehman is a professor of law and a former president of Cornell University.
