Salil Parekh Appointed As Infosys ' New CEO and MD

  • Salil Parekh Appointed As Infosys ' New CEO and MD

Salil Parekh Appointed As Infosys ' New CEO and MD

Three months after former Infosys CEO Vishal Sikka stepped down over allegations of poor corporate governance, the board of Infosys, India's second largest IT services and software firm, appointed Salil S Parekh as chief executive officer and managing director effective January 2, 2018. Salil S Parekh will replace U B Pravin Rao, who had earlier replaced Vishal Sikka as the interim CEO and Managing Director.

"We are delighted to have Salil joining as the CEO and MD of Infosys".

Apprising the Bombay Stock Exchange about its decision, Nandan Nilekani said Parekh has almost three decades of global experience in the IT services industry and has a strong track record of executing business turnarounds. He has a very strong reputation within Capgemini's financial services business and can help grow Infosys' consulting approach, which is key to the firm's growth, he said.

Tech Mahindra's Chief Executive C.P. Gurnani said as Parekh handled global services for Capgemini and knows how to manage people, he would be able to adopt to Infosys culture.

"So Infosys appears to have played it safe as the company a bad experience of earlier appointing an American CEO based out of USA", said Shriram Subramanian, founder and managing director of proxy firm InGovern Research. "My best wishes to him", said Murthy in a separate statement. Sikka, on the other hand, came into Infosys in 2014 with the reputation of a strong products and technology leader, but with virtually no experience in the outsourcing industry.

Parekh, who is now an executive at consultancy firm Capgemini, will take over on January 2, 2018, Infosys said in a statement.

7- He was named a deputy CEO of Capgemini in March 2015.

He has held several position at Salil Parekh Capgemini.

"I would like to thank Parekh for his involvement in the Capgemini journey and contribution to the development of the group in India and the USA", said Capgemini Chairman and Chief Executive Paul Hermelin in the statement. It was then that Nilekani - one of the Infosys co- founders and Aadhaar architect - was brought in as Non- executive Chairman to restore order at the embattled company. "Infosys" statement on Saturday noted that the selection of Parekh was done based on the recommendation of Nomination and Renumeration Committee. "He has relinquished his responsibilities within the group and his managerial transition is already in place", said the French company. "The Board is also grateful to Pravin for his leadership during this period of transition", said Nilekani on Saturday. He lists his current position at Capgemini as CEO for United Kingdom, north America and Asia by markets and for global financial services, by vertical, on LinkedIn.