Infosys said today that its Board of Directors has appointed Salil S Parekh as Chief Executive Officer and Managing Director (CEO & MD) of the company effective January 2, 2018.
The appointment ends a nearly four-month long search for the top job at India’s second largest IT services firm.
Parekh joins Infosys from Capgemini where he was a member of the Group Executive Board.
He has Master of Engineering degrees in Computer Science and Mechanical Engineering from Cornell University, and a Bachelor of Technology degree in Aeronautical Engineering from the Indian Institute of Technology, Bombay.
UB Pravin Rao will step down as the interim CEO and Managing Director effective January 2, 2018 and will continue as Chief Operating Officer and a whole-time Director of the Company.
The ex and first non Co-founder CEO Vishal Sikka had stepped down in August following disagreements with the Board and personal attacks, following which, Nandan Nilekani, the company’s co-founder, returned as non-executive, non-independent director and chairman of the Board of Infosys.
Commenting on the appointment of Parekh, Nilekani said, “We are delighted to have Salil joining as the CEO & MD of Infosys. He has nearly three decades of global experience in the IT services industry. He has a strong track record of executing business turnarounds and managing very successful acquisitions. The Board believes that he is the right person to lead Infosys at this transformative time in our industry. The Board is also grateful to Pravin for his leadership during this period of transition.”
Kiran Mazumdar-Shaw, Chairperson of the Nomination & Remuneration Committee said, “After a comprehensive global search effort, we are pleased to appoint Salil as the CEO & MD. He was the top choice from a pool of highly qualified candidates. With his strong track record and extensive experience, we believe, we have the right person to lead Infosys.”
IT services firm Capgemini said Salil Parekh, member of the Group Executive Board, that his departure will be effective January 1 next year.
Parekh joined Capgemini in 2000 as a result of the acquisition of the consulting division of Ernst and Young and occupied various leadership positions in the Group.
Paul Hermelin, Chairman and Chief Executive Officer of Capgemini Group said in a statement, "I would like to thank Salil for his involvement in the Capgemini journey. Salil contributed in particular to the development of the Group in India and in the US."
The Group confirmed its 2017 full year outlook, it said in a statement.
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