Infosys appoints Salil S Parekh as CEO and MD

Pic Courtesy: Youtube screengrab/Nasscom Events

New Delhi: Infosys on Saturday appointed Salil S Parekh as Chief Executive Officer and Managing Director of the company effective January 2, 2018.

Parekh is a member of the Group Executive Board at French IT services company Capgemini. Salil 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.

He has Master of Engineering degrees in Computer Science and Mechanical Engineering from Cornell University, and a Bachelor of Technology degree in Aeronautical Engineering from the Indian Institute of Technology, Bombay.

"We are delighted to have Salil joining as the CEO and MD of Infosys. He has nearly 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, Infosys.

The company said UB Pravin Rao will step down as interim CEO and MD effective January 2, 2018 and will continue as Chief Operating Officer and a whole-time Director of the company.

Meanwhile, Capgemini in a statement said that the company and Salil Parekh have agreed on his departure. "Salil has relinquished his responsibilities within the Group and his managerial transition is already in place. His departure will be effective on January 1st," the company statement said.

“I would like to thank Salil for his involvement in the Capgemini journey. Salil contributed in particular to the development of the Group in India and in the US,” Paul Hermelin, Chairman and Chief Executive Officer of Capgemini Group said.

The Bengaluru-headquartered company had been searching for a new CEO since August this year after Vishal Sikka quit amid turmoil in the company. It had formed a Nomination and Remuneration Committee chaired by Kiran Mazumdar-Shaw to search for the CEO.

Commenting on the committee's find, Shaw said, “After a comprehensive global search effort, we are pleased to appoint Salil as the CEO & MD. He 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.”

Sikka resigned from Infosys after a prolonged battle between the Board and the company founders leading to the return of Nilekani, a company co-founder, at the helm in August.

Nilekani, himself one of Infosys` seven founders and a former CEO, was named chair in August in a victory for the founders, who led by Narayana Murthy have waged an acrimonious battle with the board for months over alleged corporate governance lapses.