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Media firm NDTV on Thursday said N R Narayana Murthy, founder of IT major Infosys Technologies, is stepping down as its director with immediate effect.
NDTV informed the stock exchanges that Murthy has expressed his inability to continue on its board because of his other commitments but has agreed to act as a mentor.
'In view of increasing pressure on his time and due to his commitments within and outside Infosys, N R Narayana Murthy has expressed his inability to continue as a director on the board of directors of the company with immediate effect,' a filing said.
The filing further added that 'Murthy has agreed to act as mentor for New Delhi Television Limited'.
Infosys Technologies chairman of the board and chief mentor, Narayana Murthy, was acting as the non-executive independent director of the company.
NDTV said, 'The board of directors and the company place on record their deep appreciation of the valuable contribution of Murthy as a director during his tenure on the board'.
Earlier in a television interview, Murthy had said that he would take up responsibilities in the public domain if something interesting comes his way.
His stepping down from the NDTV board has now sparked off speculation over whether he too is going the Nandan Nilekani way to take up a governmental responsibility.