Infosys Ltd on Saturday announced the appointment of Salil S Parekh, a former top executive of the global IT services firm Capgemini, as its new full-time Chief Executive Officer and Managing Director. "The board is also grateful to Pravin for his leadership during this period of transition", Nilekani added. 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. 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.
Parekh will replace U B Pravin Rao, who had earlier replaced Vishal Sikka as the interim CEO and Managing Director.
Sanchit Vir Gogia, CEO and Chief Analyst at Greyhound Research said that Salil is a great choice, with a great hold on the yesterday, today and tomorrow of the business.
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. However, unlike the Tatas who finally opted for an insider to be chairman of Tata Sons, Infosys has again looked outside and brought in Parekh, apparently much to the disappointment of the internal candidates.
Like Infosys, Capgemini is a global consulting, technology and IT outsourcing firm headquartered in Paris. "My best wishes to him".More news: Unlocked HTC U11 Update to Oreo Rolling Out Today
"I am happy that Infosys has appointed Parekh as the CEO".
8- Parekh is also a member of the Group Executive Board of Capgemini. Described by peers as softspoken and firm, he is now based in Mumbai. "He has relinquished his responsibilities within the group and his managerial transition is already in place", said the French company. His departure from Capgemini will be effective on January 1st.
Capgemini reported €12.5 billion ($14.9 billion) in revenue for the last year as against Infosys ending with $10.2 billion in revenue for the year ended March 2017. He has been given a 5-year term.
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. Salil contributed in particular to the development of the Group in India and in the US", Capgemini CEO and chairman Paul Hermelin said in a statement. Rao will be re-designated as the chief operating officer of the company from January 2.