Infosys names Salil S Parekh as CEO and Managing Director

Infosys names Salil S Parekh as CEO and Managing Director

Infosys names Salil S Parekh as CEO and Managing Director

MUMBAI, Dec 2 (Reuters) - Infosys, India's No.2 IT services company, named Salil S Parekh as chief executive on Saturday, picking an outsider for the job for a second time and handing him the twin challenges of reviving growth and forging peace between its founders and board following a public spat. Parekh is a member of the Group Executive Board at French IT services company Capgemini. He has been with the company for 17 years and also a member of its executive committee.

Infosys Chairman Nandan Nilekani noted that Parekh has almost three decades of global experience in the IT services industry, and a "strong track record of executing business turnarounds and managing very successful acquisitions". Parekh has almost three decades of global experience in the IT services industry.

The new Infy CEO has a strong track record of executing business turnarounds and managing very successful acquisitions. Parekh has a Master's degree 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.

Salil S. Parekh will be the sixth CEO of Infosys.

Parekh, who joined Capgemini back in 2000, resigned from the Paris-based company following "recent managerial evolutions" announced in October, Capgemini said in a separate release.

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This time round co-founder Nandan M. Nilekani was recalled, a week after Sikka's resignation, to run the company as non-executive chairman and find a new CEO.

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.

Parekh, who held the designation of CEO of Capgemini's UK, Asia and financial services businesses, will be the sixth CEO of Infosys, which was started in 1981 by seven middle-class engineers, including founder Narayana Murthy and Nilekani.

He took the firm's India team from 800 people to 80,000, and acquired iGATE Corporation and few other companies over the years, Business Standard reported. "The board is also grateful to Pravin for his leadership during this period of transition", Nilekani added. 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.

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