Published: Sun, December 03, 2017
Markets | By Rosalie Gross

Infosys appoints Salil S Parekh as CEO & MD

Infosys appoints Salil S Parekh as CEO & MD

"Salil's eminence and grooming in India will be a strong advantage to establish the right face to the Infosys brand, in addition to his experience of working across global cultures", he said.

Infosys, India's second largest IT services company, on Saturday announced that it has appointed Salil S Parekh as its new chief executive officer (CEO) and Managing Director (MD).

Mean while, the former CEO and MD of Infosys, U.B. Pravin Rao will step down to make place for the new boss in office but shall continue to serve as the Chief Operating Officer and an all-time Director of the company.

"Parekh, 52, joins Infosys from Capgemini where he was a member of the Group Executive Board", said the IT major in a statement here.

1- Parekh has a Bachelor of Technology (B.Tech.) degree in Aeronautical Engineering from the Indian Institute of Technology, Bombay (IIT-B) which he completed in 1986.

Infosys will also hope that Parekh's background in the financial services industry throughout his career will help it garner more deals in the BFSI sector across Europe and North America.

Parekh, who is now based out of Mumbai, will relocate to Bengaluru, which houses Infosys's headquarters.

Aston Business School doctoral research scholar Sanjoy Sen reckons Parekh's appointment will likely be viewed positively in Infosys' journey to rebuild its business position.

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The year-long, public fight ended in Vishal Sikka resigning as CEO in August, three years after he had been handpicked for the job by Murthy himself.

Parekh will take over on January 2, 2018.

The Paris-headquartered Capgemini announced Parekh's departure, saying, "Capgemini and Salil Parekh have agreed on Salil's departure".

Infosys was thrown into crisis by founder NR Narayana Murthy's fight with its then board over what he termed were "governance deficits". Described by peers as softspoken and firm, he is now based in Mumbai.

Experts tracking Infosys lauded Parekh's appointment, but cautioned that the new CEO would need to be given enough freedom to effect a meaningful transition at Infosys, without interference from the founders.

"The board believes that he is the right person to lead Infosys at this transformative time in our industry", he said. "The existing setup at Infosys, with Nandan as chairman and Salil as CEO, is capable of addressing key operational and technology challenges".

Nilekani, credited with four-fold growth in Infosys' revenue to $2 billion during his tenure as CEO, had said at the time that cultural fit would be an important criteria for the top job, making internal candidates "very strong contenders".

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