Infosys' new chief executive officer and managing director Vishal Sikka. Pic: AP.

MUMBAI, India (AP) — Indian outsourcing giant Infosys has appointed a new chief executive to help revive the company’s flagging fortunes.

Vishal Sikka said Thursday he felt honored to lead India’s second-largest technology outsourcer and was looking forward to working with “talented Infoscions” around the world.

The co-founder of the company, Narayana Murthy, stepped down as executive chairman Thursday after returning to the company last year as part of its overhaul.

Several top executives left Infosys in the past year, unsettling shareholders.

Infosys has suffered along with other Indian outsourcers from lower spending by clients during the global downturn but orders have recently picked up from the U.S. and Europe.