Infosys Board of Directors appointed Salil S Parekh as the new chief executive officer and managing director of the second biggest IT company in India. As per a company statement, Infosys interim CEO UB Pravin Rao will be re-designated as the chief operating officer of the company from January 2. Parekh, who played major role in building Capgemini's India operations, has served there for last 25 years and his appointment as CEO of Infosys will be effective from 2nd January, 2018. He was also the company's Chairman of the North America Executive Council.
Parekh has also been a partner with Ernst & Young. He holds master's degrees in computer science and mechanical engineering from Cornell University, and a bachelor's degree in aeronautical engineering from the Indian Institute of Technology. He has almost three decades of global experience in the IT industry and has a strong track record of executing business turnarounds. he also manages everything with very successful acquisitions. During his seventeen years with the company, he has occupied various leadership positions in the Group. "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.
Parekh, who had been instrumental in expanding Capgemini's India team, had once been seen as a potential successor to Capgemini CEO Paul Hermelin.
His departure will be effective on January 1, the statement said. In an earlier statement, Hermelin had referred to Parekh's aforesaid business skills, stating: "Salil contributed in particular to the development of the group in India and in the U.S.".
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.
Nilekani underlined the company's effort to rapidly scale up digital services, train and retrain employees in new technologies, and take stock of how its various products and services can be integrated. "Infosys" statement on Saturday noted that the selection of Parekh was done based on the recommendation of Nomination and Renumeration Committee.
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