Economy

Infosys appoints Salil S Parekh as CEO & MD

Infosys appoints Salil S Parekh as CEO & MD

New Delhi, Dec 2 Infosys today said it has appointed Salil S Parekh as its CEO and Managing Director, concluding the 3-month high-profile executive search at the country's second largest IT firm. He will take charge of the office from January 2, 2018, announced the company in a regulatory filing here. Paul Hermelin, the company's Chairman and CEO, said that Parekh contributed to the growth of the group, particularly in India and the US.

"He (Parekh) has almost 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", said Nandan Nilekani, chairman of the board in a statement.

Salil S Parekh who now works at consultancy firm Capgemini will face many challenges heading India's second largest IT services firm, chief among which are to revive growth and keep the peace between the management and founders.

Parekh will be the second outsider CEO at Infosys after Vishal Sikka.

He holds a Masters degree in Computer Science and Mechanical Engineering from Cornell University as well as a Bachelors degree in Aeronautical Engineering from the IIT, Bombay.

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Parekh, who joined Capgemini back in 2000, resigned from the Paris-based company following "recent managerial evolutions" announced in October, Capgemini said in a separate release.

His exit and the prolonged public row led to a reshuffling of the Infosys' board with Nandan Nilekani, a co-founder and former CEO, returning as non-executive chairman. Nilekani had said at the time that cultural fit would be an important criteria for the top job, making internal candidates "very strong contenders".

His departure will be effective on January 1, the statement said. Infosys is also being buffeted by changing technologies, and needs to switch from basic paid-by-the-hour activities like building software systems, which are fast getting automated, to higher-margin areas like digital services.

Capgemini released a statement on December 2, announcing Parekh's departure from the company's board on January 1, 2018. "Capgemini and Salil Parekh have agreed on his departure".

The event culminated Sikka's resignation from the post of MD and CEO of Infosys on August 18 and the appointment of Rao as interim CEO and MD.


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