Published: Mon, December 04, 2017
Money | By Charlene Sutton

Salil S Parekh appointed CEO and MD of Infosys

Salil S Parekh appointed CEO and MD of Infosys

India's second largest software services company, Infosys, has brought in a senior figure from French IT firm Capgemini - Salil Parekh - as managing director and chief executive. 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. As part of the appointment, Infosys said that interim CEO and MD Pravin Rao, a company veteran, will step down from his role but will continue as the chief operating officer and a whole time director till August 2022. An IIT Bombay alumni, he holds Masters degrees in computer science and mechanical engineering from the Cornell University, in the United States.

"He (Parekh) has almost three decades of global experience in the IT services industry", said Infosys Chairman Nandan Nilekani.

8- Parekh is also a member of the Group Executive Board of Capgemini.

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"What works in his favour is that Salil will have a cover in the form of Nandan, who is also very close to founder NR Narayana Murthy". The Bengaluru-based firm had initiated the search after CEO Vishal Sikka resigned in August following a protracted acrimony between the management and the founders. With over 30 years of global experience in the IT services industry, Parekh's strong track record of executing business turnarounds and managing successful acquisitions has always been a talking point among his peers.

Back in 2014, when Infosys was hunting for a new CEO, Parekh lost to Vishal Sikka.

Another major contention was the Panaya acquisition by Infosys.

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N R Narayana Murthy, the company's founder-chairman and the man who led the charge against Sikka for alleged lapses in governance and deviation from Infosys' cultural values, endorsed the new candidate.

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.

Infosys will also hope that Parekh's background in the financial services industry throughout his career will help it garner more deals in the BFSI sector across Europe and North America.

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Besides, he will have to push further the innovation agenda in areas like cloud, blockchain and analytics given the increasing automation across industries, rapid pace of technology change and increasing visa scrutiny in key markets, they said.

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