Economy

Infosys names Salil S Parekh as CEO and Managing Director

Infosys names Salil S Parekh as CEO and Managing Director

Co-founder and Board Chairman Nandan Nilekani said: "We are delighted to have Salil joining as the CEO & MD".

The hunt for the new chief executive officer of Infosys has finally ended, with the Indian technology company announcing Salil Parekh as the CEO and managing director from January 2, 2018.

Parekh will be replacing company's interim CEO U B Pravin Rao who took charge after the resignation of Vishal Sikka, earlier this year.

Parekh, previously member of the group management board, was at Capgemini for 25 years most recently as a member of the group executive board.

Parekh, who has Masters degrees in computer science and mechanical engineering from Cornell University in the United States and a B. Tech degree in aeronautical engineering from IIT-Bombay, joined Capgemini in 2000 when it acquired the consulting division of Ernst & Young (E&Y), the London-based global accounting firm, and occupied leadership positions in the group during his 17-year-long stint. "The Board believes that he is the right person to lead Infosys at this transformative time in our industry".

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Salil has a great eye for detail, and is a good conversation holder on digital, cloud and the IT modernisation story, said Gogia. "The Board is also grateful to Pravin for his leadership during this period of transition". "He (Parekh) has almost three decades of global experience in the IT services industry". Described by peers as softspoken and firm, he is now based in Mumbai.

Interestingly on Saturday, Capgemini put out a separate press release, saying that Parekh "decided to leave the Group in the context of the recent managerial evolutions communicated in October".

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

Sikka, the first outsider to head the company, stepped down on August 18. "His departure will be effective on January 1st", Capgemini said on Saturday.

The Euro 12.5-billion ($14.9 billion) Capgemini is a 50-year-old firm with about 200,000 employees in 40 countries the world over.

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Infosys was thrown into crisis by founder NR Narayana Murthy's fight with its then board over what he termed were "governance deficits".

"After a comprehensive global search effort, we are pleased to appoint Salil as the CEO & MD".

After stepping down as CEO and MD, Rao will continue as chief operating officer and whole-time director, while Nilekani will continue as the non-executive chairman. Parekh had 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.

Fersht also added that Parekh has extensive working experience across Ameican, European and Indian work cultures - which is critical for Infosys.

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