Salil S Parekh to take over as CEO and MD of Infosys

Infosys appoints Salil S Parekh as CEO and MD

Pic Courtesy Youtube screengrab Nasscom Events

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.

According to analysts, the latest development is expected to erase the bad image of the company after bitter war of words between former CEO Vishal Sikka and the founder members, including N R Narayana Murthy.

Salil Parekh, the new CEO of Infosys, is no stranger to the the world of IT services, and not even to the process of a CEO search at Infosys.

3- Parekh has almost three decades of global experience in the IT services industry. "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. "The board believes that he is the right person to lead Infosys at this transformative time in our industry", Infosys chairman Nandan Nilekani said in a statement on Saturday.

"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 U.S.", said Capgemini Chairman and Chief Executive Paul Hermelin in the statement.

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.

Kiran Mazumdar Shaw, who heads Infosys" nomination and remuneration committee, said Parekh 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".

The full-time CEO post has been vacant since Sikka had quit, stating that he could not continue to work amid "malicious personal attacks".

Parekh, who will take over on January 2, 2018 for a period of five years, was a member of the Group Executive Board at French firm Capgemini, Infosys added.

Meanwhile, Paris headquartered global IT services firm Capgemini announced the departure of Parekh on Saturday.

Parekh has been appointed for a five-year term effective January 2, according to an Infosys filing to exchanges. Salil has primarily expertise in the European market where Capgemini has a large footprint. 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.

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