Economy

Infosys names Capgemini senior executive Salil Parekh new CEO & MD

Infosys names Capgemini senior executive Salil Parekh new CEO & MD

The hunt for the new chief executive officer of Infosys has finally ended, with the Indian technology company announcing Salil Parekh as the CEO and managing director from January 2, 2018. The announcement was made on Saturday.

Parekh has almost three decades of global experience in the IT services industry.

Infosys chairman Nandan Nilekani said the board was delighted to have Parekh joining the organisation.

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

The appointment of Parekh, who was a top executive at global IT services giant Capgemini prior to his latest assignment, marks the second successive time that Infosys has chosen a rank outsider to helm the company, after being run by its founders for the better part of its first three decades of existence.

Parekh, who has Masters degrees in computer science and mechanical engineering from Cornell University in the USA and a B. Tech degree in aeronautical engineering from IIT-Bombay, joined Capgemini in 2000 when it acquired the consulting division of Ernst & Young (E&Y), the London-based global accounting firm, and occupied leadership positions in the group during his 17-year-long stint. Following the exit of Sikka, Infosys Ltd had begun a search for a new CEO while bringing back former CEO Nandan Nilekani as the Executive Chairman of the reconstituted Board of the company and appointing Chief Operating Officer (COO) Pravin Rao as the interim CEO.

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Capgemini is a global consulting, technology and IT outsourcing firm headquartered in Paris. "He has a very strong IT services and consulting pedigree, which is proven with many years of technology and business leadership experience", said Phil Fersht, CEO and Chief Analyst at research firm HfS Research.

Parekh will take over on January 2, 2018.

7- He was named a deputy CEO of Capgemini in March 2015. The post of full-time CEO of Infosys was empty since the resignation of the Vishal Sikka on 18th August.

"Capgemini has agreed on Parekh's departure".

"I would like to thank Parekh for his involvement in the Capgemini journey and contribution to the development of the group in India and the U.S.", said Capgemini Chairman and Chief Executive Paul Hermelin in the statement. "The Board is also grateful to Pravin for his leadership during this period of transition", said Nilekani on Saturday.

Parekh was responsible for the strategy and execution of the digital and cloud services, he was instrumental in setting up the company's off-shoring capabilities and was a major architect of the company's North America growth and turnaround.