Infosys board appoints Salil S Parekh as CEO and Managing Director

Salil S Parekh

India's second largest software services company, Infosys, has brought in a senior figure from French IT firm Capgemini - Salil Parekh - as managing director and chief executive.

Parekh (53) is a member of the group executive board at Capgemini.

In a separate statement, Paul Hermelin, chairman and chief executive of Capgemini thanked Parekh, saying he contributed to the group's development in India and in the U.S.

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.

"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. "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.

Parekh's appointment drew immediate praise from Infosys founder N.R. Narayana Murthy, who had a bitter and public fallout with the previous board of Infosys and Sikka during the months preceding his ouster. An IIT Bombay alumni, he holds Masters degrees in computer science and mechanical engineering from the Cornell University, in the United States.

The Stock of the Infosys Company has declined 5.13 percent in 2017.

Parekh joined Capgemini in 2000 as a result of the acquisition of the consulting division of Ernst and Young.

Unlike Sikka, Parekh is neither flashy nor gregarious and is considered to be more amenable to the founders of the company, according to two executives. He said:"I am happy that Infosys has appointed Salil Parekh as the CEO".

Ms. Kiran Mazumdar-Shaw, Chairperson of the Nomination & Remuneration Committee, stated, "After a comprehensive global search effort, we are pleased to appoint Salil as the CEO & MD".

Nilekani, credited with four-fold growth in Infosys' revenue to $2 billion during his tenure as CEO, had said at the time that cultural fit would be an important criteria for the top job, making internal candidates "very strong contenders". "The Board is also grateful to Pravin for his leadership during this period of transition".

Soon after Vishal Sikka quit the company in August this year, Infosys named its COO UB Pravin Rao as interim CEO & brought in one of its founders Nandan Nilekani as a non-executive chairman of the board.

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