Salil Parekh to head Infosys as CEO and MD

Infosys appoints Salil S Parekh as CEO: Some key facts

Infosys has named Salil S Parekh its new CEO and Managing Director, effective January 2.

Parekh, who has been appointed for five years and will be the second outsider CEO, joins from French IT and consulting company Capgemini where he is the CEO of financial services across Europe, North America and Asia.

Prior to his work at Capgemini, where he has spent over 25 years, Parekh has also served as a partner at Ernst & Young, or EY, a multinational accounting firm and consultancy, according to his LinkedIn profile.

Nandan Nilekani, Chairman of Infosys' board, said "We are delighted to have Salil Parekh to joining as the CEO & MD of Infosys Company".

"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.

"In Salil I believe they have found an executive committed to building the next generation of Indian services, who both understands and appreciates all that an Indian talent base can offer while broadening the global talent base and leading Infosys into a becoming a digital transformation leader", he added. He has Master's degree, of Engineering in Computer Science and Mechanical Engineering from Cornell University. while from the Indian Institute of Technology, Bombay he did his Bachelor of Technology degree in Aeronautical Engineering.

With Infosys' first attempt at a non-promoter CEO in Vishal Sikka ending in bitter acrimony, accusations of governance lapses, law suits and plenty of dirty linen washed in public, the company is hoping to start the new year on a clean slate by appointing the 53-year old Mumbai-based Parekh to lead the country's second largest IT services firm.

This time round co-founder Nandan M. Nilekani was recalled, a week after Sikka's resignation, to run the company as non-executive chairman and find a new CEO.

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".

He took the firm's India team from 800 people to 80,000, and acquired iGATE Corporation and few other companies over the years, Business Standard reported.

In the company statement, Nilekani thanked Rao on behalf of the Board "for his leadership during this period of transition". "With his strong track record and extensive experience, we believe, we have the right person to lead Infosys".

Meanwhile, U B Pravin Rao has been reinstated as the Chief Operating Officer and Whole Time Director of Infosys.

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