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.

More news: Markit/CIPS: UK manufacturing PMI hits highest level since August 2013 in November
More news: Cavaliers win 10th straight game in Atlanta
More news: Republican congressman used taxpayer money to settle sexual harassment claim

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.


  • Voyager 1 back on track after firing of old thrusters

    Voyager 1 back on track after firing of old thrusters

    Because of the success in the attempt to test Voyager 1's TCM thrusters, NASA plans to test the ones on Voyager 2. Voyager 1 is now more than 13 billion miles away from Earth, so the commands took a while to be relayed.
    Former Marine gets life in prison for rape

    Former Marine gets life in prison for rape

    In 1995, mass anti-U.S. protests erupted on the island after a 12-year-old schoolgirl was raped by three US service members. Shinzato pleaded guilty to rape resulting in death and abandoning the body but did not plead guilty to murder.
    Nine dead in Taliban attack on Pakistan school

    Nine dead in Taliban attack on Pakistan school

    The area where the incident occurred is a hub for educational institutions in the city including the University of Peshawar . According to Hayatabad Medical Complex Director Shahzad Akbar, six dead and 18 injured were brought to the hospital.
  • Clashes continue between rival factions in Yemen's capital

    Clashes continue between rival factions in Yemen's capital

    Mr Hadi, in a statement after a meeting with his advisors, also said he was ready to work with Mr Saleh against the Houthis. The United Nations envoy to Yemen, Ismail Ould Cheikh Ahmed, and the ICRC urged the parties to avoid targeting civilians.
    NC State beats South Carolina State after player collapses

    NC State beats South Carolina State after player collapses

    The crowd fell silent, coaches and players were crying and praying, and Solomon's mother was screaming for her son not to die. Donte Wright led South Carolina State (1-7) with 16 points and Rayshawn Neal added 12 points.
    Bali reopens as ash disperses but President urges caution

    Bali reopens as ash disperses but President urges caution

    It warns: "Virgin Australia is advising guests now in Bali not to travel to Denpasar Airport without a confirmed rebooked flight". About 150,000 travellers from around the world were stranded in Bali when flights resumed on Wednesday afternoon.
  • Mueller Removed FBI Agent From Russia Investigation Over Possible Anti-Trump Texts

    Mueller Removed FBI Agent From Russia Investigation Over Possible Anti-Trump Texts

    The president had previously maintained that he fired Flynn in February for lying to Pence. Trump said he was not concerned about Flynn earlier Saturday.
    Tesla flips on the world's largest lithium ion battery

    Tesla flips on the world's largest lithium ion battery

    As of December 1, this Australian mega-battery has officially been switched on . The system could make a contribution to solving South Australia's energy woes.
    Dry weekend with colder air on the way

    Dry weekend with colder air on the way

    We will battle quite a few clouds over the weekend, especially Saturday as a few disturbances pass through. Our next good chance for rain will come Wednesday as a strong cold front moves through the state.
  • Missing teen out of Columbia County located safe in NY

    Missing teen out of Columbia County located safe in NY

    There are now no criminal charges pending against Rodriguez, but he could be charged with interference with custody of a child. Authorities say a missing Florida teenager who was spotted in Dorchester County earlier this week has been found safe in NY .
    Zlatan's aura is only threat to Lukaku's place

    Zlatan's aura is only threat to Lukaku's place

    Rio Ferdinand believes Romelu Lukaku's big problem at Manchester United is the return of Zlatan Ibrahimovic . Some have claimed Lukaku is a flat-track bully, scoring goals against smaller teams and not in big games.
    Selena Gomez confirms Justin Bieber romance

    Selena Gomez confirms Justin Bieber romance

    As fans will likely recall, Gomez announced the news of her surgery to her fans and followers on Instagram in September and quickly thanked her friend for saving her life.