Bangalore: Progeon Limited, the business process management subsidiary of Infosys Technologies Limited, announced on October 7 that its Board of Directors appointed Jayanth R Varma, Professor, Indian Institute of Management, Ahmedabad, as an additional director of the Board of Directors of the company with effect from October 7, 2002, according to a press release.

Prof. Varma will serve as an additional director of the Board till the next annual general meeting of the company, when his appointment as a non-executive director of the Board will be placed for the approval of the members in general meeting. With the induction of Prof Varma, Progeon has three members on the Board.

Before joining the faculty at Indian Institute of Management, Ahmedabad, in 1988, Prof Varma worked for three years as a senior consultant with a leading firm of management consultants and chartered accountants. He has carried out extensive research in the field of Indian capital markets and portfolio theory, the release said.

Prof Varma was a whole time member on the Board of SEBI for a year. Prior to that, he was a part-time member on the Board for three years. He has chaired several important committees appointed by Securities and Exchange Board of India (SEBI) and by the government of India on issues relating to the capital markets, the release added.