Business

Salil Parekh Takes Charge As New Infosys CEO And Managing Director

DIVYIA ASTHANA | 0
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| January 2 , 2018 , 10:21 IST

Salil Parekh, former board member of French consulting and technology services major Capgemini on Tuesday begins his 5-year term as the Infosys Chief Executive Officer (CEO) and Managing Director (MD).

"As per plan and the Board's decision on December 2, Parekh joins us as the new CEO and Managing Director on January 2," a company spokesperson said.

The 53-year-old Parekh is the second non-founder executive of the $10-billion firm after CEO Vishal Sikka exited the company in August 2016 after a spat with the Infosys co-founders over governance issues. The interim CEO and MD U.B. Pravin Rao would now revert back to his post as Chief Operating Officer.

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Parekh is said to be the company's nomination and remuneration committee's top choice for the executive post. The head of the committee, Independent Director Kiran Mazumdar-Shaw termed Parekh to be the "top choice from a pool of highly qualified candidates" and the "right person to lead Infosys".

Co-founder of Infosys Nandan Nilekani also hailed Parekh, saying that Parekh with "three decades of global experience in the IT services industry", and "track record of executing business turnarounds and managing very successful acquisitions" was "the right person to lead the company at a transformative time in the industry".

An engineering graduate, Parekh holds a B. Tech degree in aeronautical engineering from IIT-Bombay and Master's degrees in computer science and mechanical engineering from Cornell University in the US. He joined Capgemini in 2000 when it acquired the consulting division of London-based global accounting firm Ernst & Young (E&Y).