Friday, 19 October, 2018

Salil Parekh, The Man Who Is Appointed As Infosys CEO: 5 Points

Salil S Parekh Salil S Parekh
Kenneth Drake | 03 December, 2017, 02:11

U.B. Pravin Rao who was serving as the interim CEO has been re-designated as chief operating officer from January 2, Infosys said.

Infosys has appointed Salil Parekh chief executive officer (CEO) and managing director (MD) of the company with effect from January 2 next year.

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 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.

"The board believes that he is the right person to lead Infosys at this transformative time in our industry", he added in a statement.

Parekh has also been a partner with Ernst & Young.

Parekh, who is now based out of Mumbai, will relocate to Bengaluru, which houses Infosys's headquarters. He said:"I am happy that Infosys has appointed Salil Parekh as the CEO".

The search for a new CEO at Infosys Ltd was necessitated by the premature exit of former CEO Vishal Sikka in August this year following differences with a group of founder-investors led by the iconic founder of the company, N R Narayana Murthy. "My best wishes to him".

Interestingly on Saturday, Capgemini put out a separate press release, saying that Parekh "decided to leave the Group in the context of the recent managerial evolutions communicated in October".


According to media reports, advisory arm Everest Group chief executive Peter Bendor-Samuel said in 2015 that Capgemini achieved vastly greater growth under Parekh than had been expected.

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.

Parekh has been appointed for a five-year term effective January 2, according to an Infosys filing to exchanges.

India's outsourcing companies are seeing their biggest customers shift to cloud computing, making much of their cheap labour based traditional application development and maintenance redundant.

Kiran Mazumdar Shaw, Chairperson of the Nomination and Remuneration Committee said, "He was the top choice from a pool of highly qualified candidates".

British-based Aston Business School research scholar Sanjoy Sen said Parekh's appointment would be viewed positively in Infosys' journey to rebuild its business positioning.

The full-time CEO post at Infosys have been vacant since the time Vishal Sikka resigned, that is, on August 18, as he could not continue to work under "malicious personal attacks".

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