Infosys names Capgemini senior executive Salil Parekh new CEO & MD

Infosys appoints Salil Parekh as CEO and MD

"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.

Infosys, the country's leading IT company, has appointed Salil Parekh as its Chief Executive Officer and Managing Director.

Prior to this, Parekh has been a member of the executive board of the entire group in French multinational professional services and business consulting corporation- Capgemini. 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. The Board believes that he is the right person to lead Infosys at this transformative time in our industry, " Nandan Nilekani, chairman of the Infosys Ltd Board of Directors said on Saturday in an official statement.

Yet, Infosys has also somehow played it safe by anointing Parekh, who unlike Sikka, comes armed with plenty of experience of negotiating multi-million dollar outsourcing deals, which are staple for Infosys and its peers such as TCS, Wipro and US-based Cognizant Technology Solutions.

The logo of Infosys is pictured inside the company's headquarters in Bengaluru, India, April 13, 2017.

"I would like to thank Salil for his involvement in the Capgemini journey".

Parekh, a veteran in the global IT industry, will be the second non-promoter executive of the $10.3 billion firm after Vishal Sikka, who resigned on August 18 following boardroom battles over corporate governance issues with its co-founders, especially N.R. Narayana Murthy. "My best wishes to him", said Murthy in a statement to Mint.

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His tenure will begins on January 2, 2018.

After months of stress, turmoil and billions of dollars in shareholder value destruction, Infosys has finally named a new CEO, Capgemini's Salil Parekh.

Parekh's roles at Capgemini included heading the strategic business unit of geographies such as North America, the United Kingdom as well as local business units in India and Australia.

"Salil has relinquished his responsibilities within the Group and his managerial transition is already in place". He has been given a 5-year term. "The existing setup at Infosys, with Nandan as chairman and Salil as CEO, is capable of addressing key operational and technology challenges".

Infosys' Independent Director and Nomination and Remuneration Committee Chairperson Kiran Mazumdar-Shaw said Parekh was the top choice from a pool of highly qualified candidates for the top executive post.

After Vishal Sikka, Parekh is the second outsider at Infosys.

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